KARACHI: Governor of the State Bank of Pakistan (SBP), Mr. Jameel Ahmad, has urged financial institutions to embrace innovation, prioritize transparency, and maintain an unwavering focus on customer satisfaction to build a future-ready financial ecosystem. Addressing the 9th Pakistan Banking Awards 2024 held on November 29 in Karachi, he emphasized the banking sector’s pivotal role in driving the nation’s economic progress.
Mr. Ahmad, who graced the occasion as the Chief Guest, lauded the banking industry for its resilience and contribution to the economy, particularly during challenging times. He noted that Pakistan’s banking sector has demonstrated stronger financial performance indicators than many regional peers. However, he pointed out the need for further progress in financial inclusion, especially in underserved areas like agriculture and small and medium enterprises (SMEs).
Highlighting key priorities for the sector, Mr. Ahmad outlined five core areas for improvement. He called on banks to revisit their business models to enhance financial intermediation and drive economic growth. He stressed leveraging technology to improve accessibility, quality, and usage of financial services, promoting financial literacy to empower customers, collaborating with fintechs to deliver innovative products, and enhancing customer experience through improved service quality and user engagement.
In his welcome address, Mr. Riaz Nazarali Chunara, CEO of the National Institute of Banking and Finance (NIBAF), commended the event’s organizing partners for their support over the past nine years. He also acknowledged the contributions of participating banks for their efforts in achieving excellence within their respective domains.
The Pakistan Banking Awards, launched in 2016, are organized by NIBAF in collaboration with DAWN Media and A.F. Ferguson & Co., a member firm of the PwC network. These awards have become a definitive benchmark for excellence in Pakistan’s banking industry, covering categories across commercial, Islamic, and microfinance banking.
This year, the awards were presented in eight categories, with the addition of a new category for Women Inclusion. Meezan Bank Limited received the Best Bank Award, while the Bank of Punjab was recognized as the Best Bank for Women Inclusion and the Best Bank for Agriculture. Mobilink Microfinance Bank Limited was awarded Best Microfinance Bank, and HBL won the Best Bank for SMEs. Bank Alfalah Limited bagged both the Best Bank for Digital Excellence and Best Bank for Customer Engagement awards.
The winners were selected by an independent jury of six distinguished experts from the corporate, banking, and financial sectors. The jury included Syed Salim Raza, former Governor of SBP and Chairman of the Jury, Ms. Sima Kamil, former Deputy Governor of SBP, Mr. Naved A. Khan, former President and CEO of Faysal Bank, Mr. Shazad Dada, founder of Dada Partners Pvt. Ltd. and former President and CEO of United Bank Ltd. and Standard Chartered Pakistan, Mr. Shahid Sattar, former President of Samba Bank, and Dr. Zeelaf Munir, MD and CEO of English Biscuit Manufacturers Pvt. Ltd.
The awards ceremony brought together senior executives and industry leaders, reinforcing the commitment of Pakistan’s banking sector to innovation, transformation, and sustainability.
