SBP Gover­nor for re­gional bank­ing co­op­er­a­tion

The Pak Banker - - FRONT PAGE - Staff Re­porter

Ashraf Mah­mood Wathra, Chair­man of SAARCFINANCE and Gover­nor State Bank of Pak­istan has urged the SAARCFINANCE Co­or­di­na­tors to fur­ther for­tify re­gional co­op­er­a­tion, es­pe­cially in the ar­eas of bank­ing and fi­nance, which in turn can fa­cil­i­tate cross bor­der trade be­tween the mem­ber states.

He was ad­dress­ing the 22nd SAARCFINANCE Co­or­di­na­tors' Meet­ing held on Mon­day at Na­tional In­sti­tute of Bank­ing and Fi­nance (NIBAF) Is­lam­abad. SAARCFINANCE Co­or­di­na­tors and Al­ter­nate SAARCFINANCE Co­or­di­na­tors from SAARC Cen­tral Banks and Fo­cal Points from Min­istries of Fi­nance of the re­gion, Min­istry of For­eign Af­fairs in Pak­istan, and State Bank of Pak­istan, at­tended the meet­ing.

The Gover­nor wel­comed the par­tic­i­pants of the meet­ing in Is­lam­abad and shared the de­ci­sion of the 30th Group Meet­ing of the SAARCFINANCE, which iden­ti­fies five ar­eas for co­op­er­a­tion, which will ul­ti­mately work as a roadmap for the Net­work. These five ar­eas in­clude re­duc­ing the trans­ac­tion costs of cross-bor­der re­mit­tances in the SAARC re­gion; cross-bor­der trade in the re­gion; ca­pac­ity build­ing of our staff; the cre­ation of SAARCFINANCE sta­tis­ti­cal data­base; and un­der­tak­ing of col­lab­o­ra­tive re­search stud­ies to as­sess is­sues of com­mon in­ter­est.

Wathra ex­pressed hope that these ar­eas for mu­tual co­op­er­a­tion would help build a clear man­date for fu­ture co­op­er­a­tion among the mem­bers.

The Gover­nor high­lighted some re­cent ini­tia­tives un­der­taken by the SAARCFINANCE Net­work, such as the avail­abil­ity of short-term liq­uid­ity for mem­bers un­der the SAARC Swap Ar­range­ment; ca­pac­ity build­ing pro­grams for of­fi­cials of mem­bers un­der the SAARCFINANCE Schol­ar­ship Scheme; the di­a­logue and ex­change of knowl­edge on is­sues of mu­tual in­ter­est through SAARCFINANCE Por­tal; the cre­ation of re­gional sta­tis­ti­cal data­base, and the re­cent ini­tia­tive on col­lab­o­ra­tive re­search stud­ies. These ini­tia­tives are ben­e­fi­cial in fos­ter­ing closer re­la­tion­ships and build­ing hu­man ca­pa­bil­ity in prac­ti­cal fields of cen­tral bank­ing amongst SAARC part­ners.

The meet­ing was pri­mar­ily aimed at re­view­ing the progress of SAARCFI- NANCE ac­tiv­i­ties and to pre­pare the draft agenda for the forth­com­ing 31st SAARCFINANCE Group Meet­ing, which will be held along­side the An­nual Meet­ings of the IMF, World Bank in Lima, Peru dur­ing Oc­to­ber 9-11, 2015.

The Open­ing Ses­sion was fol­lowed by the Busi­ness Ses­sion that was chaired by Riaz Ri­azud­din, Deputy Gover­nor State Bank of Pak­istan. Ma­jor is­sues de­lib­er­ated upon dur­ing the meet­ing in­cluded the re­view of im­ple­men­ta­tion of the de­ci­sions of the 30th SAARCFINANCE Group Meet­ing held in Dhaka on 12th June 2015; the progress and up­date re­gard­ing the col­lab­o­ra­tive re­search stud­ies by mem­ber cen­tral banks; a re­view of the de­vel­op­ments re­gard­ing the SAARCFINANCE Sta­tis­ti­cal Data­base; de­lib­er­a­tion on the five ar­eas for re­gional co­op­er­a­tion; trans­fer of the SAARCFINANCE Chair to the Cen­tral Bank of Sri Lanka dur­ing the next Group Meet­ing, and Fram­ing of Agenda for the next Group Meet­ing, which is sched­ule to be held in Lima, Peru in Oc­to­ber 2015.

A group of re­searchers from the mem­ber Cen­tral Banks were also present at the open­ing ses­sion that held a sep­a­rate meet­ing un­der SAARCFINANCE Col­lab­o­ra­tive Re­search Stud­ies Ar­range­ments.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.