SBP concludes financial literacy week with poster design competition

The State Bank of Pakistan (SBP) organized a poster design competition titled “Imagine a World Without Cash” at the State Bank Museum and Art Gallery to mark the conclusion of the inaugural Pakistan Financial Literacy Week. This week-long event, held from 4th to 8th March 2024, aimed to promote financial literacy and awareness about digital financial transactions nationwide.

Children of various age groups showcased their creative ideas through poster designs, while SBP employees also contributed their concepts on the theme. Shehla Riaz, Senior Joint Director of SBP’s Financial Inclusion Support Department, highlighted that similar competitions were conducted in SBP Banking Services Corporation’s field offices across the country, engaging children to express their perceptions and ideas.

Throughout the week, a series of events, competitions, and public engagements were organized, including 160 financial literacy camps in 157 cities and towns by SBP-BSC and commercial banks. These initiatives aimed to enhance public understanding of the financial system and promote responsible financial behavior, particularly among young people. Riaz expressed confidence that the Pakistan Financial Literacy Week would empower individuals to leverage digital financial services for their benefit.

The Pakistan Financial Literacy Week is part of SBP’s National Financial Literacy Program (NFLP), which has already reached over 2.9 million individuals, with significant female participation. Notably, an 80% account opening rate was observed among beneficiaries under the NFLP. SBP continues to lead multiple initiatives in collaboration with banks to ensure equitable access to financial services, contributing to the significant growth in bank accounts in Pakistan, which reached 177 million by June 2023, covering 60% of the adult population.