Monday July 22, 2024

Continuous investment in skill development key to financial industry’s success: deputy governor of SBP

By Our Correspondent
July 11, 2024
Deputy Governor State Bank Dr Inayat Hussain poses for a photo in this undated image. — LinkedIn/nayat Hussain/File
Deputy Governor State Bank Dr Inayat Hussain poses for a photo in this undated image. — LinkedIn/nayat Hussain/File

KARACHI: The central bank’s deputy governor Dr Inayat Hussain said professionals working in the financial sector need to be engaged in ongoing learning to guarantee their long-term success, according to a statement on Wednesday.

His remarks were delivered during the launch of the Treasury Management Certification, where he underscored the importance of providing treasury professionals with the skills necessary to navigate the challenges of an evolving financial landscape.

The course has been jointly developed by the CFA Society Pakistan and the National Institute of Banking and Finance (NIBAF).Hussain commended the collaborative efforts of the SBP, NIBAF Pakistan, CFA Society Pakistan, and the Financial Market Association for developing a certification programme tailored to meet local market needs. He emphasized the challenge of maintaining quality standards and ensuring the curriculum remains aligned with advancing technology and market practices.

Encouraging the financial industry to seize this opportunity, Hussain urged institutions to encourage their treasury staff to register for the certification. He stressed that investing in staff developmentenables professionals not only to effectively manage risks and ensure compliance, but also to leverage new technologies, and adapt to dynamic market conditions.

Director of CFA Society Pakistan Mohammad Shoaib said that NIBAF and CFA Society Pakistan have collaborated to design and develop a local certification in treasury management that is custom designed to meet the requirements of local capital and money markets. He added that this certification covers conventional treasury products and concepts besides offering learning opportunities in Islamic treasury functions, which is critical for the conversion of the entire financial system to an Islamic mode as per the directive of the Supreme Court of Pakistan.

The event, attended by executives from the SBP, CFA Society Pakistan, the Financial Market Association, and NIBAF marked a significant step towards enhancing the professional capabilities of the treasury staff in the financial sector.