The number of bank accounts in Pakistan is just 16%

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bank accounts in Pakistan

According to Gallup Pakistan and HORUS Development Finance’s survey, when it comes to owning a traditional account or a mobile account, it seems that only 16 percent of Pakistanis use or own one.

In order to have an understanding of collaborative networks and financial inclusion in Pakistan, the survey was conducted to know of those who are included in the formal banking sector.

Though 16 pc seems to be a very small number but it is surely increasing as it was just 8 pc seven years back in 2008. Currently, there are 14 pc people using traditional bank accounts while 2 pc employ a mobile account.

The question was asked relating to many number of financial options and if they have used them or not.

14 pc replied with the affirmative to using traditional bank account which encloses post office saving account, current account or cheque account, PLS/Savings account, Someone else’s account, term deposit account, Islamic current or Islamic savings account or account used to get government assistance money.  The remaining 2 pc replied using or having a mobile account or using somebody else’s mobile account.

There was also 1 pc population which said that they have both mobile account as well as a traditional bank account.

The data released for March 27 to June 12, 2015 as part of Access to Finance Study 2015 included 10,000 (rural and urban across all four province) homes across the country so that the barriers faced by them are known.

The survey’s error margin could be up and down by 2 to 3 pc though it is confident to be 95 pc accurate.

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