A vast majority of Pakistanis do not have
bank accounts, according to a survey.
Karandaaz Financial Inclusion Survey
(K-FIS) discloses that only 19 percent of adult Pakistanis have a bank account.
It says Mobile Money Wallet registrations in Pakistan have doubled
in two years, increasing from nine percent in 2020 to 19 percent in 2022.
Meanwhile, the trust in Hundi/Hawala system remained stagnant at 28 percent
during the last two years from 2020 to 2022.
The bank account is used for depositing money into own account (95 percent), followed by withdrawal of money from the bank account (38 percent) and receiving wages (27 percent). Eighty-one percent of Pakistanis do not have bank accounts.
The purpose of the survey is to track access to and demand for financial services especially digital financial services, adoption among under-served groups and to identify drivers and barriers to adoption.
This survey has been carried out on the sample of 6,672 adults covering Islamabad Capital Territory and all the provinces as well as AJK and Gilgit-Baltistan.