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November 26, 2020

SBP governor’s talk on banking initiatives for expats on Dec 2

World

 
November 26, 2020

LONDON: Governor State Bank of Pakistan (SBP) Dr Reza Baqir and deputy governors Ms Sima Kamil and Dr Murtaza Syed will be giving a talk on “Innovative banking initiatives for non-resident Pakistanis” at a zoom webinar being hosted by The Pakistan Society on December 2.

According to a statement, the event will be chaired by Sir William Blackburne, Chairman of The Pakistan Society, and the panel will comprise Muhammad Ayub, Acting High Commissioner of Pakistan to the UK; Lord Choudrey CBE, Chief Executive Bestway Group; Arif M Ali, CEO of HBL UK; and Brian Firth, CEO of UBL UK.

“Dr Baqir will be giving a high-level talk on steps being taken to revive the health of the Pakistan economy especially the financial sector. He will cover some key banking initiatives that are directed towards benefiting the substantial number of overseas Pakistanis who have been contributing well in excess of USD 20 billion (approx. GBP 15 billion) annually through home remittances into Pakistan.”

The SBP governor and his colleagues will also talk on how they engaged with the financial sector to deploy digital technology to transform the manner of conducting banking transactions, including account opening, without the need to physically visit Pakistan, the statement said.

“Those with concerns on repatriation of their savings from Pakistan to their adopted countries will hear first-hand on the new regulatory regime in place,” it added.