It give me immense pleasure to address stakeholders, regulators, bankers, entrepreneurs and professionals across the technology spectrum of the country as well as abroad through this message for e-Banking 2010, This annual event has indeed cemented its place on the IT map of the Pakistan. To share the views on IT of the new government from this platform is very natural and logical, to say the least.
Anyone familiar with markets in Pakistan is witness to the fact that banking industry in Pakistan has flourished a lot over the last few years. The growth rate is reaching double figures for many institutions. Due to its good performance, the sector has attracted huge foreign investment. Many local banks are ready for GDR in international markets. Leading brand names of global banking are establishing their branches in Pakistan. The sector has contributed significantly to the growth of national economy. Our government will continue to treat IT led banking as a very critical function of national progress. I am glad that State Bank of Pakistan has played a lead role in issuing policy guidelines and regulations for e-Banking in Pakistan.
With the introduction of branchless and mobile banking in Pakistan, officially on April 1, 2008, new avenues with new and bigger challenges have come up. Banks are now reaching customers any where, any time, a service never though-of or heard of before. Kiosk, ATMs, cash deposit machines, internet, call center, phone, mobile banking are the new modes of banking. This digital challenge has its own peculiar problems.
Regulators are fast coming up with guidelines but the industry is coming up with faster solutions and products. Matching the industry appetite with proper and timely controls is the real challenge being faced by the regulators across the globe. Pakistan's case is not too dissimilar.
Events like E-Banking have provided platform for stake holders and players alike. These efforts should continue. Our govt. will support any initiatives in this regard. .I congratulates the organisers TOTAL COMMUNICATIONS, on arranging e-banking 2010 international conference.
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