The National Institute of Banking and Finance (NIBAF) Pakistan successfully conducted a focused training session on “Monetary Policy Management” for the 27th Batch of the State Bank Officers Training Scheme (SBOTS-27) on July 14–15, 2025, at its Karachi Campus. This two-day program was designed to deepen the understanding of macroeconomic tools and strategies used by central banks to maintain economic stability, with a special emphasis on Pakistan’s current monetary framework.
The session was led by Mr. Fida Hussain, Director of the Economic Policy Review Department (EPRD) at the State Bank of Pakistan (SBP), who brought to the table years of domain expertise and policy experience. His involvement ensured that the training maintained a sharp focus on real-world application, allowing participants to grasp the nuances of policy decision-making in a dynamic economic environment.
The training formed a crucial part of the SBOTS induction process, which aims to equip newly recruited officers with a comprehensive foundation in the core functions of central banking. Given the increasingly complex economic landscape, particularly in emerging markets like Pakistan, understanding the mechanics of monetary policy has become indispensable for future policymakers.
Topics covered during the workshop included the objectives and transmission mechanisms of monetary policy, inflation targeting, the role of interest rates, open market operations, exchange rate dynamics, and coordination between fiscal and monetary authorities. In addition to theoretical insights, the session included practical case analyses that examined the evolution of SBP’s monetary stance over recent years.
Mr. Hussain also offered an in-depth overview of how the Economic Policy Review Department supports the formulation of evidence-based policy decisions, highlighting the role of data, forecasting models, and macroeconomic indicators in shaping SBP’s response to inflationary pressures and external shocks.
The officers of SBOTS-27 engaged actively throughout the session, with discussions reflecting their growing awareness of both local and global monetary trends. The training aimed not only to enhance technical knowledge but also to instill a policy-oriented mindset that will be essential in their future roles within the central bank.
This initiative reflects NIBAF’s commitment to building institutional capacity within the financial governance sector. By offering such targeted and forward-looking training programs, NIBAF ensures that incoming central bankers are well-prepared to navigate the challenges of a modern financial system and contribute effectively to Pakistan’s macroeconomic stability.
As the State Bank of Pakistan continues to evolve in its approach to monetary regulation and financial oversight, programs like these play a pivotal role in shaping the next generation of economic policy leaders. With strong collaboration between departments like EPRD and training institutions like NIBAF, Pakistan’s central banking framework continues to strengthen in alignment with global standards.