Population boom, climate change major challenges: BAFL CEO

KARACHI: Atif Bajwa, Chairman, Pakistan Banking Summit 2025 and CEO Bank Alfalah said population growth and climate change are two major challenges, but our mindset needs to be changed.

In his address at Pakistan Banking Summit 2025, he said: “Having the right policy is important, but the right mindset is essential,” highlighting the critical role of banking in the country’s economy while pointing out challenges facing the sector.

During his speech at the summit, Bajwa emphasized that the event aimed to highlight the importance of banking, bringing together experts from around the world who shared valuable insights.

Furthermore, he praised the State Bank of Pakistan for creating a favorable environment for banking operations and noted that two years ago, Pakistan was on the brink of default, but SBP established fiscal discipline.

“The economic stability we see today is not accidental; we have fought through difficult times,” he said, adding that “Governor Jameel Ahmad has continued to advocate for us in Islamabad.”

The banking chairman expressed concerns regarding perceptions of the banking sector in the capital.

Defending the banking industry, he said, “We are patriotic and loyal to the country.” Bajwa called for recognition of the sector’s contributions, noting that “54 percent of our profits go to the government as taxes, so they should consider us partners.”

He criticized the current taxation approach, saying, “When we earn higher profits, more taxes are imposed and called for long-term policy stability for the sector.

“We need long-term policies because we are important,” Bajwa added.

Earlier, the second-day of summit began with a session titled “Future Proofing Talent: Developing an Ethical, Inclusive & Skilled Workforce.” Alia Zafar, Director at Commonwealth Secretariat, delivered insights on skills development in the banking sector, while Habib University President Wasif Rizvi addressed diversity and inclusion challenges.

A high-level panel discussion followed featuring Muhtashim Ahmad Ashai, President of Soneri Bank, and Dr. Ahmad Junaid, Rector & Dean of KSBL, moderated by former Unilever and L’Oréal CEO Musharaf Hai.

The second session, “Small Business, Big Impact: Global Insights and Pakistan Perspective,” highlighted the crucial role of SMEs in economic growth. Farhan Fasihuddin, Principal Investment Officer at International Finance Corporation (IFC), discussed SME empowerment strategies, while State Bank of Pakistan Deputy Governor Saleem Ullah explained how regulations can drive business growth.

JS Bank President & CEO Basir Shamsie and Techlogix Co-CEO Salman Akhtar participated in a panel discussion moderated by Asif Riaz, Group Chief Consumer Banking at Bank of Punjab.

Later, attendees gathered for a session on “Cultivating a Sustainable Future: Agriculture in the 21st Century.” Andre van der Vyver, Executive Director of South African Cereals and Oilseeds Trade Association, shared global perspectives, while Kazim Saeed, CEO of Pakistan Agriculture Coalition, addressed sustainable agriculture challenges specific to Pakistan. Amer Aziz, CEO of HBL Zarai Services, presented a case study on successful agricultural banking initiatives.

The summit also featured an eKYC (electronic Know Your Customer) launch and presentation, demonstrating the sector’s commitment to digital transformation.

The final session focused on “Unlocking the Future of Islamic Finance,” with presentations from Iqbal Khan, CEO of Fajr Capital, on the evolution of Islamic finance, and Rafe Haneef, Group CEO of MBSB Berhad, who shared insights from Malaysia’s Islamic banking revolution.

Irfan Siddiqui, President & CEO of Meezan Bank, and Yousaf Hussain, President & CEO of Faysal Bank, joined a panel discussion moderated by Dr. Muhammad Imran, Group Head of Islamic Banking at Bank Alfalah.

Copyright Business Recorder, 2025