SBP holds seminar on financial stability

KARACHI: The State Bank of Pakistan (SBP) on Tuesday emphasised on managing the risks to the stability of the financial sector for maintaining un-interrupted availability of financial services, raising investors’ confidence, and enhancing the reach of financial access, a statement said.

Riaz Riazuddin, deputy governor, SBP, addressing the inaugural session of a two-day seminar on ‘Financial Stability’, stressed for effective financial stability framework and enhancing the cross boarder supervisory corporation.

The seminar is being hosted by the SBP under the patronage of SAARCFINANCE Forum at National Institute of Banking and Finance (NIBAF), Islamabad.

SAARCFINANCE, a network of central bank governors and finance secretaries of the SAARC region, was established to share experiences on macroeconomic policy issues among member countries, including Pakistan, India, Bangladesh, Sri Lanka, Bhutan, Maldives, Nepal, and Afghanistan.

The seminar was attended by around 40 mid to senior level officials from five central banks of SAARC member countries, and the Securities and Exchange Commission of Pakistan (SECP).

Local and foreign financial sector experts from Pakistan, multilateral agency, and foreign banks shared views on topics related to financial stability and the role of central banks and financial institutions.

While welcoming the participants, Amer Aziz, managing director at NIBAF, highlighted the facilitating role played by NIBAF, in collaboration with SBP, in arranging such seminars.