"Strengthening Regional Cooperation: ASEAN and Pakistan Seminar Highlights"

 

National Institute of Banking and Finance (NIBAF), which is a subsidiary of the State Bank of Pakistan, worked with the Ministry of Foreign Affairs to put on a 5-day training session for ASEAN Member states on "Digital Payments Landscape and Financial Inclusion in Emerging Markets." From May 8–12, 2023, 24 people from Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, Thailand, Vietnam, the ASEAN Secretariat, and Pakistan took part in the training. The training program was part of attempts to change Pakistan's position on the ASEAN platform from Sectoral Dialogue Partner to Full Dialogue Partner.

The program, which was made for people who work at the central banks of ASEAN member states, gave an overview of Pakistan's Digital Payment Systems infrastructure and its parts. The important role of SBP in making digital banking services available to more people was also discussed. Participants in the program also talked about their personal experiences with Central Bank Digital Currency, cryptocurrencies, the disruptive potential of fintechs, and the culture of business in developing markets.

At the end of the program, efforts were made to reinforce the idea that financial inclusion is a key way to reduce poverty and boost economic growth in emerging countries.