Designing A Construct To Measure Financial Inclusion In Pakistan: Insights From Qualitative And Quantitative Analysis

Abstract

While Pakistan is trying to improve its level of financial inclusion, there still remains a big gap in the female population which is unbanked. In order to bridge it, the State Bank of Pakistan is drafting policies which would lead to increased financial inclusion by promoting an equal number of male and female financial agents and encouraging the use of technology. However, there is no construct available which measures financial inclusion specifically for Pakistan. This study is aimed to design a construct that can be used to measure financial inclusion through 16 qualitative interviews and 250 quantitative questionnaires. After compiling the data and
analyzing it, this study gives a measurement tool which can be used by policy makers and future researchers. This study has validated themes of Awareness (financial literacy), Barriers, Use of technology, Investments and Savings, Loans, and Comprehension (of processes and services).

Key words: Financial Inclusion, Financial Literacy, Financial Services, regulations, accessibility,
knowledge, barriers.