KARACHI: State Bank of Pakistan (SBP) Deputy Governor Riaz Riazuddin emphasised on managing risks to the stability of the financial sector for maintaining uninterrupted availability of financial services, raising investors’ confidence and enhancing reach of financial access to potential areas.
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He stressed upon the need for putting in place effective financial stability frameworks and enhancing cross-boarder supervisory cooperation.
Riazuddin was addressing the inaugural session of the seminar on ‘financial stability’ hosted by the SBP from March 27 to 28, 2017 under the auspices of SAARCFINANCE Forum at National Institute of Banking and Finance (NIBAF), Islamabad.
The SAARCFINANCE is a network of Central Bank Governors and Finance Secretaries of the South Asian Association for Regional Cooperation (Saarc) region established to share experiences on macroeconomic policy issues among member countries including Pakistan, India, Bangladesh, Sri Lanka, Bhutan, the Maldives, Nepal and Afghanistan.
The seminar was attended by around 40 mid- to senior-level officials from five central banks of Saarc member countries and Securities and Exchange Commission of Pakistan (SECP), according to a press release.
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NIBAF Managing Director Amer Aziz, while highlighting the facilitating role played by NIBAF in collaboration with the SBP, stressed upon the participants to engage in lively discussions with the speakers and among themselves to gain maximum benefits from the seminar.
World Bank South Asia Finance and Private Sector Development Unit Senior Financial Economist Gabi G Afram explained the importance of having a well-established institutional framework for ‘Bank Resolution and Crisis Management’.
Published in The Express Tribune, March 29th, 2017.
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