9th Pakistan Banking Awards 2024: SBP Governor Urges Banks to Embrace Tech And Close Gap to Agriculture, SMEs

Karachi, November 29, 2024:The 9th Pakistan Banking Awards ceremony, held at a local hotel in Karachi, brought together senior executives and prominent figures from Pakistan’s banking and finance industry. The event was graced by the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, who served as the Chief Guest. In his address, Governor Ahmad emphasized the critical need for financial institutions to focus on excellence, innovation, and collaboration to build a more inclusive and future-ready financial ecosystem. He encouraged banks to align their efforts with the broader goal of economic development and to actively contribute to enhancing the well-being of the nation. “The banking industry in Pakistan has played a pivotal role in supporting the economy during challenging times by ensuring the uninterrupted provision of financial services,” Ahmad stated. Highlighting the strength of the sector, he noted that Pakistan’s banks boast financial performance indicators stronger than many regional peers. Key Areas of Focus for BanksAhmad outlined five priority areas for the banking sector: Ahmad also highlighted the need to bridge gaps in financial inclusion, particularly in the agriculture and SME sectors, and commended the industry for its contributions toward sustainable economic growth. Awards for Excellence in BankingThis year’s awards recognized exceptional performance across eight categories, with a new category introduced for Women Inclusion. The winners for 2024 were: Distinguished Jury and Transparent Selection ProcessThe winners were selected through a transparent and impartial evaluation process led by a distinguished six-member jury. The jury was chaired by former SBP Governor Syed Salim Raza and included former Deputy Governor Sima Kamil, former CEOs Naved A. Khan and Shazad Dada, former Samba Bank President Shahid Sattar, and MD & CEO of English Biscuit Manufacturers (Pvt) Ltd, Zeelaf Munir. Organizers and VisionThe Pakistan Banking Awards, established in 2016, are organized by the National Institute of Banking and Finance (NIBAF) Pakistan in collaboration with DAWN Media Group and A.F. Ferguson & Co. (a member firm of the PwC Network). These awards have become the definitive benchmark for banking excellence in Pakistan, encompassing commercial, Islamic, and microfinance banks. Riaz Nazarali Chunara, CEO of NIBAF Pakistan, commended the unwavering support of organizing partners and the commitment of participating institutions in striving for leadership and excellence in the industry. As the ceremony concluded, the message was clear: Pakistan’s banking sector must continue to innovate and collaborate to address pressing challenges and unlock new opportunities for growth and inclusion.