Coordination Meeting Between SECP and SBP Focuses on Financial System Stability

ISLAMABAD: The 33rd Coordination Committee Meeting between the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) took place at the SECP Headquarters situated in Islamabad.

The SBP-SECP Coordination Committee acts as an advanced platform designed to foster vital discussions and regulatory harmony between the nation’s leading financial regulatory bodies. Its primary goal is to improve cooperation, achieve unified policies, and initiate joint efforts aimed at enhancing the financial system’s growth and resilience.

Emphasis on Capital Markets and Private Sector Funding

Governor Jameel Ahmad highlighted the necessity of utilizing capital markets as a reliable and sustainable funding option for the government. He mentioned that this strategy would allow banks to increase their emphasis on supporting the private sector, thereby encouraging economic expansion. He acknowledged the SECP’s work in improving market infrastructure and reaffirmed the SBP’s dedication to collaborative improvements.

Role of Banks in Strengthening Capital Markets

SECP Chairperson Akif Saeed stressed the crucial contribution of banks in reinforcing Pakistan’s capital markets. He stated that forming stronger alliances with capital market entities and promoting vigorous cooperation would enable banks to fully utilize available possibilities, boosting market growth and wider economic advancement.

Key Discussion Points
  • Digital payment integration within the capital market.
  • Improved access to credit information for regulatory needs.
  • Possible solutions for resolving existing credit data issues.

The Committee also assessed the advancement of projects related to financial product innovation, shared digital infrastructure, and regulatory alignment within developing sectors.

Commitment to Financial Ecosystem

Both organizations reiterated their dedication to ongoing collaboration in order to develop a robust, inclusive, and technology-driven financial environment.