Wathra lauds role of banks in economic growth

SBP governor says such events encourage entrants and motivate established ones

KARACHI: The banking sector of Pakistan has been fundamental to the development of the economy and its role can never be undermined, said State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra, adding that technology-based services and performance achieved by the sector is laudable.

Addressing the launching ceremony of the 2nd Pakistan Banking Awards 2017, he said, “The financial sector plays a pivotal role in determining the overall economic growth and development of a country.”

“The contribution and achievements of the institutions contributing to this sector should be recognised and acknowledged,” he said, further adding that after the success of the first awards he was delighted to address, “this distinguished gathering of executives and academicians from the banking and finance sector”.

He added that these awards are now an annual event, to encourage new entrants to make their mark while motivating the established institutions to strive for excellence.

Wathra appreciated the role of Institute of Bankers Pakistan (IBP), A F Ferguson & Co (AFF) for organising the awards on a continual basis.

IBP CEO Hussain Lawai said, “The Pakistan Banking Awards 2017 would serve as a platform to promote, recognise and acknowledge the contribution of the banking industry towards enhancing Pakistan’s economy.”

“Our jury comprises of people who possess relevant expertise and are undoubtedly institutions in themselves,” he added.

Meanwhile, representative from AFF PWC presented eight award categories including; Bank the Unbanked Award, Best Micro Finance Bank, Best Bank for Small Businesses and Agriculture, Best Bank for Corporate Finance & Capital Market Development, Best Customer Franchise, Best Islamic Bank, Best Environmental, Social and Governance (ESG) Bank and the Best Bank.

Published in The Express Tribune, March 28^th, 2017.

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