Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), delivered a keynote message at the SAFA International Conference 2024, emphasizing the crucial role of modern technology in driving sustainable economic growth. The conference, organized by the South Asian Federation of Accountants (SAFA) and the Institute of Cost and Management Accountants of Pakistan (ICMA), focused on leveraging technological advancements to address pressing global challenges.
In his address, Ahmad highlighted the multifaceted challenges facing the global economy, including climate change, food insecurity, and socio-economic inequalities. He stressed that modern technology offers significant potential to develop effective solutions for these issues, driving long-term sustainability and economic resilience.
The Governor noted that the integration of advanced technologies into financial management practices is essential for fostering economic growth and creating employment opportunities, particularly for the tech-savvy younger population. He pointed to the State Bank’s ongoing initiatives, such as the Raast payment system, licensing of digital banks, and efforts to increase financing for agriculture and SMEs, as key steps towards enhancing financial service access and delivery through digitization.
Ahmad commended the SAFA and ICMA for their efforts in organizing the conference, which provides a platform for professionals to discuss critical issues such as environmental, social, and governance (ESG) criteria, carbon pricing, and resilient financial strategies. He expressed confidence that the conference would yield valuable insights and contribute to making the financial system more efficient and equitable.
The Governor concluded his message by extending best wishes to all participants, highlighting the importance of collaboration and innovative thinking in achieving sustainable economic growth. His remarks underscored the SBP’s commitment to supporting technological advancements and ensuring that the financial sector remains adaptive and responsive to evolving global and local needs.