Jameel Ahmad: Monetary policy and digitization of payment systems

Speech by Mr Jameel Ahmad, Deputy Governor for Banking and FMRM at the State Bank of Pakistan, at the 21st MAP( Management Association of Pakistan) Convention, Karachi, 28 August 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
11 September 2019

Mr. Amir Jamil Abbasi, President MAP

Distinguished Speakers

Ladies and Gentlemen!

Assalam o Alaikum and a very Good Morning!

It is a privilege for me to be here to deliver a keynote address on "Monetary Policy and Digitization of Payment Systems". These areas are the key policy pillars of every forward-looking Central Bank in the world today and has therefore attracted a lot of interest of the academia, business community and the public in our country as well.

In my talk today, I would first like to draw your attention to the challenges our economy is facing and how the recent structural and policy changes by SBP, especially through monetary policy, will help stabilize it. Then, I will share my thoughts on the issue of digitization and technological developments, which is massively changing the payment and banking industry around the globe as well as in Pakistan. Finally, I will talk about the strategy of SBP on digitization and use of technology to not only bring efficiency in the payment but help in documentation of economy