KARACHI: “The financial sector is instrumental for the national development of the country. The role of institutions contributing to this sector in various forms need to be not only highlighted; but also duly acknowledged,” said State Bank of Pakistan (SBP) Governor Tariq Bajwa.
He said this while addressing at the launching ceremony of the 3rd Pakistan Banking Awards 2018 here at the IBP Head Office on Wednesday.
While talking to media, he said all stakeholders involved in low-cost housing financing have been consulted to highlight the difficulties so that a framework could be devised for the financing policy. After the analysis and formation of policy low-cost housing financing will grow in the country, he hoped.
The Institute of Bankers Pakistan (IBP) in collaboration with A F Ferguson and Co. (AFF), have taken this initiative and it has provided a platform to recognise the contribution of institutions making a marked difference in the world of banking.
“I strongly encourage maximum participation by banks and supporting institutions; and would like to see more and more entrants actively participating in this event every year. These awards will showcase their efforts in promoting and projecting Pakistan as a progressive nation that is advancing towards economic stability and developing into a welfare state,” he said.
While expressing his appreciation for the jury he said as, in previous years, I am positive that in order to ensure transparency and independence at all levels, the honourable jury would maintain the secrecy and nominations would be made on merit.
“These awards honour and promote the efforts of banks for developing new and innovative products and services while giving them the incentive to enhance their performance for the coming year. They encourage banks to gauge their standing within the industry by setting benchmarks. Most importantly, they inculcate a spirit of healthy competition as the awards are a great source of pride for the winning institutions, he concluded.
IBP Chief Executive Hussain Lawai said the Pakistan Banking Awards 2018 will no doubt once again, serve as a distinguished platform to promote, recognize and acknowledge the contribution of the banking industry towards enhancing Pakistan’s economy.
He also added that this year, one new category for “Best Emerging Bank” has been added while the name of the category “Best Bank for Corporate Finance and Capital Market Development” has been changed to “Best Investment Banking”; while all other award categories remaining the same.