State Bank of Pakistan (SBP) Governor Jameel Ahmad Friday launched SBP’s strategic plan, SBP Vision 2028, for the period 2023-2028 in a ceremony held in Karachi.
SBP Vision 2028, the first plan after amendments in the SBP Act, highlights the central bank’s vision, mission, and key goals to be pursued over the next five years. The strategic plan has been developed through a consultative and inclusive process with key stakeholders.
Speaking on the occasion, the governor highlighted that SBP Vision 2028 represents SBP’s commitment to foster price and financial stability and to contribute in the sustainable economic development of the country.
Ahmad added that evolving risks and challenges to the economy and financial stability, including climate change, rapid digital innovations and disruptions, and growing cyber security threats, have also been kept in perspective while developing the plan.
The governor elaborated that the SBP Vision 2028, revolves around six strategic goals that include maintaining inflation within the medium-term target range, enhancing efficiency, effectiveness, fairness, and stability of the financial system, promoting inclusive and sustainable access to financial services, transforming into a Shariah-compliant banking system, building an innovative and inclusive digital financial services ecosystem, and transforming SBP into a high-tech, people-centric organization.
These strategic goals are built to cover five cross-cutting themes, including strategic communication, climate change, technological innovation, diversity and inclusion, and productivity and competitiveness.
State bank itself decades behind other banks in digitalisation.