Pakistan's Financial Inclusion Index Rises to 59.5 in 2025, Up From 58.1
The SBP says Pakistan's Financial Inclusion Index reached 59.5 for 2025, up from 58.1. See what drove the rise, what the release leaves out and what it means.
The State Bank of Pakistan (SBP) said on 7 October 2026 that Pakistan's Financial Inclusion Index rose to 59.5 for 2025, up from 58.1 for 2024. The SBP says the rise was led by more people using financial services, helped by Raast merchants, new digital banks and account opening drives.
The index is a score from 0 to 100. A higher score means more people can reach, use and trust formal financial services. The gain is 1.4 points, or about 2.4 per cent. It is a small step on a long road, and the SBP's own numbers show how long.
We read the SBP's press release of 7 October 2026 on the State Bank's website. It is short. It gives the headline score and the reasons for the rise, but not the three sub-scores for 2025. We say below what is missing.
The index rose from 58.1 to 59.5 in one year
The Pakistan Financial Inclusion Index (P-FII) was 59.5 for 2025. The SBP launched it on 31 December 2025 with a first score of 58.1 for 2024. This is the first yearly update, and the SBP plans one each year.
| Year | P-FII score (0 to 100) | Change |
|---|---|---|
| 2024 | 58.1 | First score, launched 31 December 2025 |
| 2025 | 59.5 | Up 1.4 points, released 7 October 2026 |
The score still sits well under 100. In plain terms, the SBP rates the country a little under 60 per cent of the way to its goal. The goal is not a perfect 100. Each part of the index is measured against a target value that the SBP hopes to reach by 2030.
The SBP says usage grew the most
The index has three parts: access, usage and quality. The SBP says the rise came mostly from the usage part. Access came next and quality third. In other words, people did more with accounts and services, more than they gained new places to open them.
| Part of the index | What it looks at | 2025 role, per the SBP |
|---|---|---|
| Usage | How often people use accounts, cards, wallets and payments | Largest growth |
| Access | How easy it is to reach branches, agents and digital channels | Second |
| Quality | How good the services are for customers | Third |
The release does not give the 2025 value for each part. We have not published a number the SBP did not publish. The detailed technical paper on the SBP's P-FII page is the place to look for the breakdown.
Raast, digital banks and account drives drove the rise
The SBP names four drivers: Raast merchant onboarding and the wider payment system, the start of digital banks, account opening drives, and strong consumer orientation and financial literacy work. It ties the progress to the National Financial Inclusion Strategy 2024 to 2028.
Raast is the State Bank's instant payment system. A shop that signs up can take payments by QR code without a card machine, as we explain in our steps for taking Raast QR payments in a shop. People who want to send money by phone number can start with the guide to using Raast.
Digital banks are banks that work through an app with no branch network. The explainer on how digital banks work in Pakistan lists what they offer.
The payments review points the same way
The SBP also released its yearly payments report on 6 October. It says digital channels carried 92 per cent of retail payment transactions in FY26, up from 88 per cent in FY25. Both releases describe a shift from cash to phones.
We cover the payment numbers in detail in the report on how 92 per cent of retail payments are now digital. Note one difference. The payments review counts transactions in the formal system. The inclusion index measures how many people and services are reached, and how well. A rise in one does not prove a rise in the other.
- 2025: the index is 59.5.
- FY26: digital channels reach 92 per cent of retail payments.
- 2030: the SBP's target values for each indicator.
What the 1.4 point gain does and does not tell us
The gain shows direction, not speed. One year of data cannot show a trend, and the SBP gave no breakdown by province, gender or income. We would not claim, from this release, that women or rural areas gained more than others.
The index has 69 indicators covering banking, non-bank services and payments. Because it mixes so many, a big jump in one area can be hidden by a small move in another. Quality is the part to watch, because opening more accounts does not by itself raise it.
If you have a problem with your own bank, the quality score is not a number you feel. A complaint is. Our guide to the SBP Sunwai complaint portal shows how to file one.
Common questions about the financial inclusion index
What is Pakistan's Financial Inclusion Index?
It is the SBP's score for how well people can reach, use and benefit from formal financial services. It runs from 0 to 100 and is built from 69 indicators.
What was the score for 2025?
It was 59.5 for 2025, up from 58.1 for 2024, according to the SBP's release of 7 October 2026.
Which part of the index grew most?
The usage part, followed by access and then quality, the SBP says. The release gives no separate score for each part.
When will the next score come out?
The SBP has said it intends to publish the index every year. The release for 2025 came in October 2026, so the next update is likely to be some time in 2027, but no date has been given.
Does a higher score mean more Pakistanis have bank accounts?
Not by itself. The index covers access, usage and quality. It is not a count of account holders, and the release did not publish one.
How we verified this
What we checked, where we read it, and what we could not confirm.
Last checked 8 October 2026. The 2025 score of 59.5, the 2024 score of 58.1, the order of the three parts and the four named drivers come from the SBP press release of 7 October 2026. The 2024 launch details, the 69 indicators and the 2030 targets come from the SBP's press release of 31 December 2025 and its P-FII page at sbp.org.pk. The payments figures come from the SBP release of 6 October 2026.
About the author
Senior Writer, Public Services and Technology
Shahid joined us in 2024 as an author. He is a senior contributor to Pakistan's leading technology websites. He writes detailed articles, mostly covering his expertise in the latest tech, mobiles, apps, gadgets, and step-by-step guides. His ideology is to help people understand the latest trends and explain complex methods through very easy-to-understand guides.
