Deputy Governor State Bank of Pakistan (SBP) Riaz Riazuddin stressed on administering risks to ensure stability of the financial sector for maintaining the uninterrupted availability of financial services, raising investors’ confidence and enhancing the reach of financial access to potential areas.
He highlighted the need to put in effective financial stability frameworks and strengthening cross-border supervisory cooperation.
Riazuddin was presiding over the maiden session of the seminar on ‘financial stability’ hosted by the SBP from March 27 to 28, 2017 under the auspices of SAARC FINANCE Forum at National Institute of Banking and Finance (NIBAF), Islamabad.
The SAARC FINANCE 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 saw representation by around 40 mid- to senior-level officials from five central banks of Saarc member countries and Securities and Exchange Commission of Pakistan (SECP).
NIBAF Managing Director Amer Aziz, while underlining the facilitating role played by NIBAF in association with the SBP, requested the participants to engage in lively discussions with the speakers and among themselves to gain maximum benefits from this 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’.
