SECP-SBP panel meeting: New developments in digital financial services discussed

KARACHI: The 30th meeting of the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) Coordination Committee was held on Thursday at SBP head office here.

Jameel Ahmad, Governor SBP along with senior officials represented the SBP, whereas the SECP team was headed by Chairman Akif Saeed, along with Commissioners and senior officials.

The SECP-SBP coordination committee meetings are high-level meetings between the two regulators, providing a platform for collaborating on matters impacting overall stability and smooth functioning of the financial sector. These formal meetings supplement the ongoing regular coordination between the two regulators on all matters of mutual interest.

The focus of the meeting was to deliberate on new developments in the financial sector especially digital financial services, data sharing, promoting financial inclusion, climate related financial disclosures, coordination mechanism for bancassurance business and steps needed for the development of capital market in Pakistan.

These meetings, previously held on regular basis, have resumed after a hiatus of four years. While thanking Governor SBP for resuming this important initiative, Akif Saeed stressed upon the importance of regular contact between officials of the two institutions at all levels.

Copyright Business Recorder, 2023