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Security, economy interlinked: State Bank

Updated October 21, 2017

KARACHI: The State Bank of Pakistan (SBP) believes that better security conditions have accelerated the economic activity.

SBP Deputy Governor Jameel Ahmad lauded the impact of improved security conditions attributing much to the operation Zarb-i-Azb and the ongoing Radd-ul-Fasaad.

“A marked turnaround in retail sales has been observed in metropolises, with positive readings in investor and consumer confidence surveys,” said the deputy governor.

He was addressing a delegation of National Security and War Course 2017, led by Air Commodore Aamir Bashir, visiting the State Bank of Pakistan. The delegation consisted of more than 200 officers including Pakistan Armed Forces’ officers, Grade-20 CSS officers and senior military officers from some friendly countries.

The deputy governor explained that being the central bank of a developing country, SBP has also assigned itself an important developmental role.

Given the socio-economic indicators of the country, coupled with low level of financial inclusion, SBP has been aggressively promoting financing to the under-served sectors of the economy like farmers, micro, small and medium enterprises, and also faith-sensitive clients who do not intend to bank with conventional institutions.

Published in Dawn, October 21st, 2017