KARACHI: The State Bank of Pakistan (SBP) and Ministry of Foreign Affairs jointly conducted training program for ASEAN member states.

National Institute of Banking and Finance (NIBAF), a subsidiary of State Bank of Pakistan, in collaboration with Ministry of Foreign Affairs organized a five-day training program on ‘Digital Payments Landscape and Financial inclusion in Emerging Markets’ for ASEAN Member states.

The program was held from May 8-12, 2023, which was attended by 24 participants from Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, Vietnam, ASEAN Secretariat and Pakistan. The training program was part of efforts to improve Pakistan’s status on ASEAN platform from Sectoral Dialogue Partner to Full Dialogue Partner.

The program, designed for the personnel of central banks of ASEAN member states, provided an orientation of Digital Payment Systems infrastructure and its constituent components in Pakistan. In addition, deliberations were made about the critical role of SBP in democratization of digital financial services.

Program participants also discussed their experiences regarding Central Bank Digital Currency, cryptocurrencies, disruptive potential of fintechs and culture of entrepreneurship in emerging markets. The program came to a close with an endeavour to reinforce the view of financial inclusion as a key enabler to reduce poverty and enhance economic growth in developing countries.

Copyright Business Recorder, 2023