SBP Dy Gov for review of Banks’ business models

Colombo

Deputy Governor, State Bank of Pakistan, Jameel Ahmad has emphasized the need for a review of the prevailing banking business models to effectively address the challenges of rapidly changing financial and technological landscape. Ahmad was addressing eminent scholars, industry practitioners and leading professionals on the topic of “Changing Dynamics: Bank of the Future” as a key note speaker at the 29th Annual Convention of Association of Professional Bankers (APB)—Sri Lanka, held at Cinnamon Grand, Colombo. Deputy Governor, SBP in his speech reflected on the prevailing course of banking and said that the shifts in the supervisory approach of regulators and the regulatory measures that were taken after the Global Financial Crisis of 2007-8 as well as rapid technological developments are mainly reshaping the future of banking. “Although the reforms that were undertaken after the Global Financial Crisis were focused on achieving financial stability have improved the overall resilience of the financial system, they have increased the complexity of the regulatory framework from multiple perspectives”, he highlighted adding, “This has resulted in contraction of cross border lending, partial scaling back of off shore operations of multinational banks and a decline in the post crisis profitability of banks”.—Agencies

Share this post

PinIt
    scroll to top