Page 4 - NIBAF-Training Matters July - December 2022

National Institute of Banking and
Finance (NIBAF) in collaboration with
the Institute of Cost and Management
Accountants of Pakistan (ICMA
Pakistan) conducted a conference on
“Role of the Banking Sector in
Business and Economic Growth of challenging global and domestic small businesses and agriculture. He
nd
Pakistan” on December 2 , 2022 at economic environment. Banking encouraged banks to focus on
Marriott Hotel, Karachi. This full day system can better serve business developing and designing products
event focused on the emerging sector activities by offering smart and with the consumers' interests in mind.
challenges, opportunities and modes innovative digital financial services. During the conference, Mr. Shehzad
of innovation for Banking sector in He added that, the banks must ensure Ahmed Malik, President ICMA
Pakistan. The event featured keynote that financial innovation is customer expressed that a major challenge for
addresses and high level policy centric, which results in faster, safer banks across the globe was adapting
deliberations for the way forward in and cheaper access to financial to innovation. He suggested that for
Banking and digital financial services services. local commercial banks, especially, it
spectrum. The panelists, speakers The Governor remarked that the is high time that they should make it a
and attendees included key industry transformation of banking system priority to adopt new technologies like
market movers, academicians, from conventional to Shariah Artificial Intelligence (AI) and
innovators and banking sector compliant mode in the light of Chatbots which can offer them
delegates. decision of Shariah court and the revolutionary solutions and enable
Mr. Jameel Ahmed, Governor SBP, growth in digital technologies offer a them to compete with the digital
graced the conference as the chief huge opportunity for the growth of the banks that would be gradually
guest. In his address, the Governor, banking. He reaffirmed the assiduous entering into the banking arena in
reiterated SBP’s resolve to foster a support being offered by SBP in the Pakistan.
dynamic and stable banking system; advancement of digital transformation The Conference was attended by
geared towards economic welfare of and unwavering support for Islamic senior management of the central
the society. The Governor elaborated banking transformation in the bank, banking community and
that banking sector in Pakistan financial industry. Governor stressed members of ICMA.
continues to serve the needs of the upon the need for banks to leverage
economy and make progress on key innovative financial solutions in order
public policy objectives of financial to achieve a higher level of financial
inclusion, innovation and financing to inclusion especially for largely
priority sectors, given the recent excluded segments; such as women,

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