For many young adults, managing monthly expenses, using digital wallets, or understanding basic banking services remains a trial-and-error process rather than a learned skill. The NFLP-Y financial literacy initiative at UOR (University of Rawalpindi) addresses this growing challenge faced by university students today.
In Pakistan, a significant proportion of students enter university with little to no formal exposure to financial literacy, despite increasingly complex personal financial decisions. Moreover, academic learning is often disconnected from everyday financial realities.
As a result, questions such as how to budget responsibly, understand banking products, or plan for long-term financial stability are rarely addressed in formal curricula. As the country faces rising inflation, increasing youth entrepreneurship, and rapid digitalization of financial services, the role of universities in supporting informed financial decision-making has become increasingly important.
Why Financial Literacy Matters for Youth Today
Globally, financial literacy is increasingly recognized as a core life skill. According to the World Bank’s Financial Inclusion Overview, access to financial services helps individuals manage economic risks, build savings, and participate more fully in formal economic systems, empowering them to better withstand income shocks and avoid the negative consequences of exclusion.
In the national context, Pakistan, where a large segment of the population remains outside the formal banking sector, financial awareness among youth plays a critical role in advancing national financial inclusion goals.
University students, particularly those preparing for professional and entrepreneurial careers, are at a stage where early financial habits can shape long-term outcomes. Yet, many students graduate with strong academic knowledge but limited exposure to practical financial planning, saving behavior, or responsible borrowing.
In this context, the NFLP-Y financial literacy initiative at UOR emphasizes the importance of practical financial awareness for students navigating academic and personal responsibilities.
NFLP-Y Financial Literacy Initiative at UOR: Workshop Overview
Against this backdrop, the Department of Applied Business and Economics, University of Rawalpindi, organized a National Financial Literacy Awareness Workshop for Youth on 30th December 2025, from 10:00 AM to 12:00 PM, at UOR Seminar Hall.
According to international assessments such as the Standard & Poor’s Global FinLit Survey, which reports that about two-thirds of adults worldwide lack basic financial skills, and research by the Global Financial Literacy Excellence Center, which shows only one in three adults globally is financially literate, the challenge of financial education remains significant for individuals and higher education institutions.
The workshop was organized by Dr. Rubab Tahir in collaboration with the National Institute of Banking and Finance (NIBAF), State Bank of Pakistan (SBP).
Through the NFLP-Y financial literacy initiative at UOR, students gain practical exposure to real-world financial concepts regardless of their academic discipline. Students from the Department of Applied Business and Economics, Department of Digital Design and Computer Arts, and Department of Behavioral and Social Sciences participated, reflecting the interdisciplinary relevance of financial literacy across academic fields.
Learning from Practice: Trainer’s Session
The training session was conducted by Mr. Salman Shehzad, Project Director, and National Financial Literacy Program for Youth (NFLP-Y), State Bank of Pakistan. His session focused on translating financial concepts into practical, relatable experiences for students.
Key areas covered included:
• Budgeting and personal financial planning
• Saving behavior and responsible spending
• Banking products and services
• Responsible borrowing and financial discipline
• Introduction to social entrepreneurship
As part of the session, students were guided through practical exercises such as drafting a one-month personal budget and identifying common hidden banking charges, helping translate theory into real-life financial decision-making.
Rather than relying on abstract theory, the session used real-life examples and interactive discussions, allowing students to reflect on their own financial behaviors. This approach helped participants understand how financial literacy directly affects personal stability, career choices, and entrepreneurial decision-making.
In addition to these activities, participants gained hands-on experience using the Lean Canvas framework, enabling them to structure business ideas while applying financial principles in a practical setting.
The session placed particular emphasis on social entrepreneurship, encouraging students to view financial decision-making not only from a personal perspective but also in terms of broader social impact.
A Broader Perspective: Keynote Address
The NFLP-Y financial literacy initiative at UOR was further enriched by a keynote address from Dr. Abdul Ghaffar Khan, Associate Professor and Academics Director at Mohi-ud-Din Islamic University, who attended as Guest of Honor.
Drawing on his experience with institutions such as Wuhan University of Technology (China), Preston University, Aga Khan Foundation, and the United Nations, he emphasized the importance of financial awareness in a rapidly changing economic environment.
His address highlighted how financially informed youth can contribute not only to their own wellbeing but also to sustainable economic development, ethical entrepreneurship, and informed civic participation.
Student Engagement and Learning Environment
One of the strengths of the workshop was active student participation. Students engaged in questions, discussions, and reflective exercises that encouraged them to think critically about their current financial habits and future goals.
The outcomes of the NFLP-Y financial literacy initiative at UOR highlight improved student awareness of budgeting, savings, and responsible financial decision-making. Whether entering creative industries, psychology, technology, or entrepreneurship, financial decision-making remains a shared responsibility across professions.
What This Experience Tells Us about University Learning
The workshop reflects a broader shift in higher education towards skills-oriented and life-relevant learning. While financial literacy may not always appear as a standalone academic subject, initiatives like this demonstrate how universities can integrate essential life skills into the student experience through targeted, expert-led interventions.
NFLP-Y financial literacy initiative at UOR served as more than a one-time event. It highlighted how partnerships with national institutions such as SBP and NIBAF can bridge the gap between academic knowledge and real-world application. It also raised an important question for universities across Pakistan: how can financial literacy be embedded more systematically into student learning journeys?
Looking Ahead: Lessons and Takeaways
Several key takeaways emerge from the NFLP-Y Literacy Initiative at UOR:
• Financial literacy is a foundational skill for youth, regardless of discipline
• Interactive, practice-based learning increases student engagement and retention
• Collaboration with national institutions strengthens the relevance of university initiatives
• Early financial awareness can support responsible citizenship and long-term economic stability
NFLP-Y financial literacy initiative at UOR demonstrated how targeted educational initiatives can address real-world challenges facing students today. By equipping youth with practical financial knowledge and decision-making skills, UOR continues to strengthen its role in preparing socially responsible, economically informed graduates.
As universities rethink their role in shaping the future workforce, experiences like this remind us that education is not only about academic success, but also about empowering students to navigate life beyond the classroom.
Explore More at UOR
To explore more student-focused initiatives and learning experiences, visit University of Rawalpindi Blog.
Readers may also explore recent educational visits to the National Science and Technology Park (NSTP) and the National Centre of Artificial Intelligence (NCAI), as well as UOR’s inclusion in the UI GreenMetric World University Rankings, highlighting the University’s commitment to innovation, sustainability, and practical learning.
