Closing the gender gap: Palestine Monetary Authority learns from State Bank of Pakistan’s experience

In Palestine, where women still face constraints in accessing financial services, the Palestine Monetary Authority (PMA) has been working to develop a gender and digital awareness roadmap, to support the banking sector and public actors in their efforts to close the gender gap. 

Earlier this month, PMA took part in an AFI Peer Learning Exchange program with the State Bank of Pakistan (SBP), learning from SBP about their policy interventions to enhance gender equality, how they created an institutional framework for gender equality awareness, mapping, and implementation, and how to monitor and evaluate the impact of financial awareness programs for women.  

“We gained valuable insights into best practices and effective strategies for enhancing financial inclusion and promoting gender equity,” said Mohanad Salous, Chief of PMA’s Financial Inclusion Division. “It was a real ‘light bulb moment’, and we are deeply grateful for the State Bank of Pakistan’s willingness to share their expertise and experience with us.” 

“We were delighted to host PMA’s financial inclusion team, to share how we have improved financial inclusion and helped to close the gender gap,” said Umair Ahmad, Senior Joint Director at State Bank of Pakistan’s Agriculture Credit & Financial Inclusion Department. “The sessions were incredibly insightful and productive for both teams, and highlighted a number of opportunities for further collaboration. We wish PMA good luck as they work to convert their learnings into fruitful outcomes for enhancing gender inclusive finance.” 

The peer learning exchange was possible thanks to the Grand Duchy of Luxembourg, which provides financial support for AFI projects to help the Palestine Monetary Authority develop and implement innovative and sustainable policies to boost financial inclusion.