Banks, fintechs urged to collaborate

According to The Express Tribune, Deputy Governor Muhammad Ali Khan of the State Bank of Pakistan said the central bank is working to build a digital financial ecosystem that people can trust and hold to account. Speaking as chief guest at the fourth Pakistan Fintech Forum, he stressed that the goal extends beyond wider digital access to include stronger regulation and economic results. The forum was hosted by the Pakistan Fintech Network on Wednesday.

Syed Nadeem Hussain, chairman of the Pakistan Fintech Network, opened the forum by saying the sector has moved past early adoption and now needs to scale responsibly. He called for regulatory clarity, resilient infrastructure and closer cooperation between banks and fintech firms to widen lending access. Officials from the SECP, the Pakistan Digital Authority, the Pakistan Virtual Assets Regulatory Authority and Raast Payments Pakistan also took part in discussions covering digital banking, financing, payments, inclusion and emerging technologies.