SBP unveils its strategic plan to foster economic development, financial stability

November 17, 2023 (MLN): The governor of the State Bank of Pakistan (SBP), Jameel Ahmad, launched SBP’s strategic plan 'SBP Vision 2028,' which highlights the central bank’s vision, mission, and key goals to be pursued over the next five years.

The plan covers the period 2023-2028 and was unveiled in a ceremony held today at SBP Karachi, attended by the senior management of the bank.

It is the first plan following amendments to the SBP Act.

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 SBP’s commitment to foster price and financial stability and to contribute in a sustainable economic development of the country. 

The central bank's governor 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 centers on six strategic goals.

These goals encompass maintaining inflation within the medium-term target range, enhancing the efficiency, effectiveness, fairness, and stability of the financial system.

Additionally, the vision aims to promote inclusive and sustainable access to financial services, transition to a Shariah-compliant banking system, build an innovative and inclusive digital financial services ecosystem, and transform the SBP into a high-tech, people-centric organization.

The SBP Vision 2028 can be accessed at the bank's website.

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