SBP Governor unveils Strategic Plan for next five years

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad unveiled strategic plan, SBP Vision 2028, for the period 2023-2028, which focuses on key goals to be pursued over the next five years.

According to a statement, SBP Governor unveiled the strategic plan in a ceremony held today at State Bank Building in Karachi, which was attended by the senior management of the Bank.

SBP Vision 2028, the first plan after amendments in the SBP Act, highlights the central bank’s vision, mission and key goals to be pursued over the next five years.

The strategic plan has been developed through a consultative and inclusive process with key stakeholders.

Speaking on the occasion, the Governor SBP highlighted that SBP Vision 2028 represents the central bank’s commitment to foster price and financial stability and to contribute in a sustainable economic development of the country.

Jameel Ahmad added that evolving risks and challenges to the economy and financial stability, including climate change, rapid digital innovations and disruptions, and growing cyber security threats, have also been kept in perspective while developing the plan.

He elaborated that the SBP Vision 2028, revolves around six strategic goals that include maintaining inflation within the medium-term target range, enhancing efficiency, effectiveness, fairness and stability of the financial system, promoting inclusive and sustainable access to financial services, transforming to a Shariah compliant banking system, building an innovative and inclusive digital financial services ecosystem, and transforming SBP into a high-tech, people-centric organization.

These strategic goals are built to cover five cross-cutting themes, including: strategic communication, climate change, technological innovation, diversity and inclusion, and productivity and competitiveness.