25.05.2009

The State Bank of Pakistan maintains a very positive view regardingPakistan’s fi­nancial system as the sector has seen growth in recent years.Thus Pakistan’s banking industry and the broader financial sector hasenormous growth potential to support faster economic growth and development asthe sector has gained dynamism, profitability, and strength. While theseachievements are impressive, many challenges remain, including the need forgreater financial access, availability of financial safety nets, and supervisorychallenges for a dynamic financial infrastructure, et­c.

With this in mind, the State Bank of Pakistan has formulated a strategy forbanking sector reforms over the next decade. This strategy (BSS) will focus onreforms in ten key topic areas such as strengthening competition, efficiency,and consumer protection, as well as further strengthening and consolidating thebanking sector amongst others.

For the full press release from the State Bank of Pakistan, please go to: http://www.sbp.org.pk/