Financial literacy is crucial for individuals to make informed decisions about their money and achieve financial wellness. In Pakistan, the need for financial literacy and wellness is more important than ever. Financial literacy leads to financial inclusion, which is defined as access to formal financial services by individuals & firms to use a range of quality payments, savings, credit and insurance services which meet their needs with dignity and fairness.
State Bank of Pakistan launched National Financial Literacy Program (NFLP) to promote financial inclusion through spreading financial education for inclusive economic growth and stability across the country. Bank AL Habib is engaged in empowering citizens to make informed financial decisions through its products, services, and financial literacy initiatives.
Creating and sticking to a budget is essential to achieving financial wellness. In Pakistan, where the average household income is around PKR 45,000 per month, budgeting can help individuals manage their finances effectively.
Saving is a critical component of financial wellness. However, in Pakistan, where the savings rate is only 10.2% of the GDP, it is essential to understand the benefits of saving and develop a saving habit.
Retirement planning is essential for long-term financial wellness. In Pakistan, where only 10% of the population has a pension plan, it is important to start planning for retirement early. Here are some tips and tricks for retirement planning:
We offer an array of products and services that help you meet your financial needs. Our current check-in accounts are an ideal option for your day-to-day banking needs.
Learn more about our current accounts by clicking here.
Saving accounts provide a convenient option for customers to attain return on savings and an additional monthly income.
You can view saving accounts by clicking here.
AL Habib Mobile App allows you to bank on the go.
We offer a convenient way to open your bank account digitally in a few simple steps. To open your account digitally, click here
With the aim to understand monetary principles, financial products/services, and cultivating positive attitudes toward economic well-being, Bank AL Habib is dedicated to promote financial literacy within the middle and low-income households of Pakistan. Through a series of Classroom Sessions and Street Theaters, in-house trainers are disseminating financial knowledge among the masses and imparting essential financial concepts. This effort has engaged over 8,000 participants encompassing both males and females, opening more than 4,000 accounts during Phase II of the program. Notably, this initiative has led to the active involvement of over 3,500 females, with more than 1,000 females successfully opening their own accounts.
As per the vision of State Bank of Pakistan to promote financial literacy and inclusion and encourage the adoption of digital financial solutions, Bank AL Habib is actively participating in the national level initiative of Pakistan Financial Literacy Week, taking place from 4th - 8th March, 2024 under the theme "Financial Inclusion through Digital Means".
The objectives of Pakistan Financial Literacy Week (PFLW) are as follows:
Bank AL Habib is setting up Financial Literacy camps in Abbotabad, Kotli, Lasbela, Multan, Nowshera and Rahim Yar Khan from 5th till 7th March, with the aim to promote digital financial literacy in Pakistan.
Click here to download the PFLW Camp Locations.