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3 in 4 Pakistanis believe that credit/ loan should be avoided as it is a source of tension and worries.



According to a survey conducted by Gallup Pakistan, 75% Pakistanis agreed with the following statement: ‘One should avoid credit/ loan because it is a source of tension and worries’. On the other hand, 25% disagreed with the statement. These results are a part of the nationwide Access to Finance Study conducted by the State Bank of Pakistan in 2015 with the intent of determining the degree of financial inclusiveness of the Pakistani public (please refer to page # 3 for more details).

Introduction to the series on Financial Inclusion Research:

This press release is part of a special series that aim to foster an empirical understanding of financial inclusion in Pakistan and that hope to create a collaborative network of individuals working on the topic. Before starting any conversation on developing a methodology of increasing financial inclusivity in Pakistan, it is vital to be aware of the perceptions that the general public has with regards to banks, other formal financial institutions as well as individual and household decisions on financial matters.

This particular press release aims to determine the proportion of Pakistanis who believe credit should be avoided as it is a source of tension and worries. Impediments to financial inclusion are access to credit, depth of credit and intermediation of credit, thus public perception on credit uptake is an important question to ask.  Therefore, if the aim is to increase financial inclusion in the country, where financial literacy is limited among the masses, it is pertinent to first be aware of credit acceptance amongst the public.

A nationally representative sample of men and women from across the four provinces was asked, “Please tell me if you rather agree or disagree with these statements? [One should avoid credit because it is a source of tension and worries]” In response to this question, 75% Pakistanis agreed with this statement whereas 25% respondents disagreed.