The 10th Pakistan Banking Awards brought together key leaders of the country’s financial ecosystem at the Pearl Continental Hotel in Karachi, marking a decade of recognizing institutions that have demonstrated excellence, innovation, and responsible banking practices. The ceremony, organized by the National Institute of Banking and Finance in partnership with DAWN Media and A.F. Ferguson & Co., highlighted the evolving landscape of Pakistan’s financial sector and the rising expectations from modern banking institutions.
State Bank of Pakistan Governor Jameel Ahmad attended the event as the Chief Guest and presented the Best Bank Award to Meezan Bank. The recognition underscored Meezan Bank’s consistent performance and its strategic approach toward sustainable growth. During his address, the Governor emphasized that the awards play a pivotal role in raising industry standards and encouraging competition rooted in excellence and innovation.
He outlined a forward-looking blueprint for transforming Pakistan’s banking system over the next decade, driven by three foundational elements: innovation, inclusion, and responsibility. He stressed that this transformation requires banks to fundamentally reorient their business models toward meeting the financial needs of the private sector, with a particular focus on SMEs and small depositors. He cautioned that institutions relying heavily on government lending may find themselves outpaced by banks that concentrate on deposit mobilization and extending credit to underbanked segments. According to him, sustainable growth lies in supporting communities and businesses that historically remain underserved.
The Governor highlighted four key areas where banks must accelerate their progress. The first priority is embedding digitalization across customer interactions and internal operations. He pointed to mobile commerce, agriculture supply chains, credit scoring innovation, and risk management as areas that demand integrated digital solutions. He urged banks to treat digital transformation as an essential long-term strategy rather than a convenience offering.
The second priority centers on artificial intelligence and machine learning. He encouraged banks to adopt AI tools to create smarter and more inclusive risk models that incorporate alternative data. This, he explained, will enable banks to offer tailored products and services for small businesses, entrepreneurs, and start-ups that often struggle with conventional documentation requirements.
Third, the Governor emphasized the importance of integrating climate risk into credit frameworks. He called on banks to adopt sustainability targets, explore green bonds, and structure sustainability-linked loans to drive climate-friendly investments. This approach, he noted, aligns Pakistan with global trends in climate finance and positions the banking sector as a driver of resilience.
Lastly, he urged banks to strategically realign their priorities to facilitate Pakistan’s export sector. Strengthening export growth, he noted, requires a banking system that not only finances domestic expansion but also supports global competitiveness.
The ceremony also honored several institutions for excellence in specialized categories. The Bank of Punjab secured multiple recognitions, including Best Bank for Women Inclusion, Best Bank for SMEs, and Best Bank for Agriculture Inclusion. Kashf Foundation was awarded Best Microfinance Institution. Bank Alfalah received both Best Bank for Digital Excellence and Best Bank for Customer Engagement. Faysal Bank was named Best Mid-sized Bank, while HBL was recognized as the Best Bank for ESG.
Governor Jameel Ahmad commended all partners and award recipients for their role in strengthening Pakistan’s financial ecosystem and fostering integrity, innovation, and customer-centric growth.
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