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Digital Excellence Essential for Propelling Future Growth in Pakistan's Economy
islamabad news desk
The lending risks faced by banks need to be reduced through the use of the latest technologies and by updating banking policies and practices in Pakistan. Additionally, more congenial prudential regulations are required to strengthen financial intermediation and lend to the most productive segments of the economy to reduce imports, boost exports, and build foreign exchange reserves. However, under the present fragile, fluid and un- certain environment, it would be unfair to expect that banks and other financial institutions will perform well. Therefore, efforts are being made by banks, encouraged by the central bank and prompted by the sector’s ombudsman, to improve their operational efficiency and customer services.
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Notable progress is visible in digitalized banking, aimed at strengthening the financial intermediation in the country in the pursuit of equitable and sustainable development. To ensure quick disposal of cases and provide speedy relief to complainants, the Banking Mohtasib Pakistan office has intro-
