National Savings Karachi celebrated "World Savings Day-2017", celebrated globally on 31st October every year, to create awareness about the importance of savings. Being a member of World Savings Banks Institute (WSBI), National Savings also celebrates this day every year and accordingly regional directorate of National Savings Karachi organized a seminar on Savings, financial inclusion and social security at Institute of Bankers Pakistan (IBP) on Tuesday.
The seminar was attended by Zafar Masud Director General National Savings. The other keynote speakers were Irfan Siddiqui President Meezan Bank, Hasan A Bilgrami President Bank Islami Pakistan, Dr Farrukh Iqbal Director IBA Karachi, Aftab Diwan CEO CDC, and Shahnawaz Nadir Shah Chief Investment Specialist government of Sindh.
Zafar Masud DG National Savings in his speech apprised the participants of seminar that National Savings is an attached Department of Ministry of Finance and mandated to promote savings among the masses and facilitate Financial Inclusion. He informed that this institution having rich history of 144 years has been preferred avenue of investment for every segment of society ranging from students to senior citizens, widows and Pensioners.
"This is evident from the fact that National Savings deposits make around 35 percent of entire banking deposits of nation and its 51 percent customers are women," he added. He further elaborated the new initiative of National Savings being considered for promotion of savings and financial inclusion which include automation, introduction of mobile application and digitization besides introduction of alternate delivery channels to expand the outreach of National Savings to every Pakistani. The DG National Savings also briefed the seminar about recent development and customers facilitation initiatives.
Aftab Diwan Chief Executive CDC delivered the speech on the role of depository in promotion of Savings and consumer protection. Shahnawaz Nadir Chief Investment Specialist Government of Sindh also spoke and highlighted role of pension funds in promotion of savings.
Dr Farrukh Iqbal delivered speech on increasing savings rates and its benefits to the economy and how other countries of region and world best practices can be implemented to increase savings rate in Pakistan.
Hussain Lawai, Chief Executive IBP said National Savings is playing an important role in providing risk free savings and investment opportunities for the low income segments of the country. He also delivered his message on social security and inclusive growth-role of financial sector. Irfan Siddiqui delivered presentation on prospects of launching Shariah Product by National Savings and apprised that it will increase savings and investments as large number of people refrain from investing due to Riba factor. While Abdul Ghafoor Baloch Joint Director National Savings Karachi paid vote of thanks.