Page 3 - NIBAF-Training Matters January - June 2023

Joint Training

Program for

ASEAN Member

States by SBP

and MoFA

SBP, in collaboration with the Minis-
try of Foreign Affairs, organized a
5-day training on ‘Digital Payments
Landscape and Financial inclusion
in Emerging Markets’ for central
bankers of ASEAN Member States. ed to digital financial frauds and Discussions were also held on SBP’s
The program was part of the efforts SBP’s strategy to deal with the regulatory oversight framework and
to improve Pakistan’s status on same. Different fraud typologies, collaboration with other regulatory
ASEAN platform from “Sectoral’ to a vulnerabilities in the control authorities including SECP, PTA and
‘Full Dialogue Partner’. The environment and recent regula- NADRA for the promotion of digital
program was held from May 8-12, tions in the area to prevent digital financial services in the country.
2023 at NIBAF-Islamabad and was financial frauds were also shared
attended by 23 participants from 7 with participants. Informal conversations with indus-
ASEAN states. try experts and among the partici-
Deliberations about the critical role pating central bankers further
The program covered a range of of SBP in democratization of digital allowed the participants to under-
pertinent topics for central bankers financial services was an important stand common issues and
and priority areas for SBP where component of the program. Partici- challenges faced by their respective
knowledge sharing would help pants discussed their experiences countries. This sensitization to key
focus on common issues of devel- regarding central bank digital issues of developing countries and
oping economies. The program currency, cryptocurrencies and their financial systems is expected
included an orientation on National culture of entrepreneurship in to lead the way towards finding
Payment Systems Strategy, Digital emerging markets. Cross border sustainable solutions to economic
Payment Systems infrastructure in payments integration and its signif- challenges through mutual
Pakistan, regulatory initiatives to icance was also discussed in detail dialogue and exchange of ideas.
promote Fintechs, and frameworks and participants were further
launched to promote digital briefed about SBP’s current prog- The program came to a close with a
onboarding of customers under the ress in the area including its commitment to promote financial
Roshan Digital Account, Pakistan engagement with Arab Monetary inclusion for it being a key enabler
Remittance Initiatives, Sohni Dharti Fund (AMF) to link the Raast in reducing poverty and promoting
Loyalty program, A major part of System of SBP with the Buna economic growth in developing
the training program was dedicat- System of AMF. countries.

3 Training Matters | January-June 2023