Islamabad, Feb 26: The Pakistan Banking Summit (PBS’25) concluded in Karachi, marking a landmark event for the country’s financial sector. Held on February 24-25 at the Movenpick Hotel, this first-of-its-kind initiative, organized by the Pakistan Banks Association (PBA), brought together a diverse array of financial leaders, policymakers, and international experts to explore the future of banking in Pakistan.
The summit saw participation from over 45 institutions, encompassing conventional, Islamic, digital, and microfinance banks, along with development finance institutions. With 12 international speakers and more than 20 industry experts, the event facilitated discussions on economic developments, financial inclusion, SME and agricultural financing, digital transformation, sustainability, and diversity in banking.
Notable attendees included Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and State Bank of Pakistan Governor, Jameel Ahmad, alongside distinguished figures from academia, the corporate sector, and regulatory bodies. Addressing the gathering, Zafar Masud, Chairman of PBA, underscored the banking sector’s crucial role in Pakistan’s economy.
He highlighted that banks contributed PKR 644 billion in taxes in 2023, financed 99.8% of the budgetary deficit, and held assets equivalent to 48.7% of the GDP. With over 200,000 employees and a commitment to 20% female participation, the industry remains a key driver of economic resilience and financial inclusion.
Atif Bajwa, Chairman of the Steering Committee for PBS’25, emphasized the transformative impact of the summit, noting that collaboration between local financial institutions, global best practices, and a supportive regulatory framework is essential for driving innovation and growth. Muneer Kamal, CEO & Secretary General of PBA, reiterated that PBS’25 successfully fostered industry-wide discussions, paving the way for progressive financial reforms.
One of the summit’s key highlights was the official launch of the eKYC (Electronic Know Your Customer) initiative. This digital framework aims to streamline banking operations by replacing traditional manual verification processes with a secure, efficient system, enhancing compliance and customer experience.
PBS’25 served as a catalyst for shaping Pakistan’s financial sector, with discussions translating into actionable strategies for economic expansion, digital banking, and financial inclusion. The summit marks the beginning of a transformative journey, reinforcing the banking industry’s commitment to sustainable and innovative growth.
