This recognises that the very low level of financial awareness and confidence of financially excluded groups remains a strong barrier to their access and use of financial services. In addition, there are risks involved in creating new opportunities for consumers if the consumers are not proficient at making financial decisions.
Therefore, going forward, SBP considers financial literacy as an integral part of the financial inclusion strategy. Financial literacy has assumed greater importance in recent years for both developed and developing countries, therefore, best practices in this area are still evolving.