Business Reporter
Karachi: The Securities and Exchange Commission of Pakistan (SECP), in collaboration with the Pakistan Banks Association (PBA), organized a high-profile consultative workshop titled “Unlocking Capital Market Potential for Banks” in Karachi. The Honourable Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, graced the event as Chief Guest.
The workshop brought together top officials from SECP, State Bank of Pakistan (SBP), commercial banks, Capital Market Infrastructure Institutions (CMIIs), the brokerage industry, and other stakeholders. It served as a platform for strategic dialogue on how to strengthen linkages between financial institutions and Pakistan’s capital markets.
SECP’s Vision for Reform
In his welcome address, SECP Chairperson Akif Saeed highlighted the urgent need for closer collaboration between banks and capital markets to drive growth. He pointed to key reforms including issuance of GoP Ijarah Sukuk through PSX, the adoption of the T+1 settlement cycle, strengthening of the voluntary pension system, and the revamped public offering regime. He thanked the Finance Minister and all stakeholders for their active participation.
Finance Minister’s Call for Integration
Delivering his keynote, Finance Minister Aurangzeb stressed that greater participation of financial institutions in capital markets would diversify funding sources and provide businesses with sustainable financing options. He proposed forming a Capital Market Development Council comprising SECP, SBP, CMIIs and PICG to accelerate these efforts.
Key Discussions and Initiatives
Panel discussions explored how banks can contribute through leveraged products, digital banking integration with capital markets, and unlocking agricultural and commodity sectors via the electronic warehouse receipt regime.
The event also marked the launch of two major initiatives: the Capital Market Development Fund (CMDF), focused on financial literacy and investor awareness, and the Agahi Portal, designed to promote shareholder participation, transparency, and accountability.
SBP’s Perspective
SBP Governor Jameel Ahmad noted that while macroeconomic conditions are stabilizing—with inflation easing and growth gradually recovering—the country still faces structural challenges. With domestic savings at just 7.4% of GDP compared to 27% in South Asia, Pakistan relies heavily on external financing. He emphasized that well-developed, diversified capital markets are essential to channel domestic savings into productive sectors.
Industry Leaders Speak
Distinguished speakers including Dr. Shamshad Akhtar (Chairperson, PSX), Rehmat Ali Hasnie (President & CEO, NBP), Atif Bajwa (President & CEO, Bank Alfalah), Muhammad Nassir Salim (President & CEO, HBL), and Dr. Ishrat Husain (Former Governor, SBP) underscored the crucial role of banks in expanding capital markets. They praised SECP’s initiatives for strengthening investor confidence and laying the foundation for long-term market growth.
PBA’s Commitment
Muneer Kamal, CEO & Secretary General of PBA, lauded SECP’s efforts. “By convening the financial ecosystem partners for dialogue, we’ve made the first move in the right direction. Now, we need to move beyond conversations to actionable plans—clear timelines, accountable stakeholders, and bank-ready products that deepen liquidity and broaden participation,” he said.
Conclusion
The workshop set the tone for stronger bank–capital market integration, with stakeholders agreeing that collaboration, innovation, and investor confidence will be the driving forces of Pakistan’s sustainable financial future.
