Standard Chartered CEO proposes tailored financial instruments to FM

July 04, 2024 (MLN): Group Chief Executive of Standard Chartered Bank PLC, Bill Winters, during a meeting with Finance Minister Muhammad Aurangzeb yesterday, proposed introducing new products and financial instruments tailored to meet the evolving needs of the Pakistani market.

According to a press statement, Standard Chartered Pakistan CEO Rehan Shaikh and Head CCIB Pakistan Arslan Nayeem were also present in the meeting.

Bill Winters appreciated the ongoing efforts of the government to bring about economic stability and the significant improvements in macroeconomic indicators.

He also acknowledged the strides made in the banking sector and appreciated the government's initiatives in this regard.

Expressing Standard Chartered's commitment to supporting Pakistan's economic aspirations, Winters highlighted the bank's eagerness to assist Pakistan in accessing international capital markets.

The Finance Minister appreciated Winters visit to Pakistan, which signifies Standard Chartered's commitment to the country.

He reiterated the government's focus on stimulating economic growth by committing to streamline processes and ensure a stable regulatory environment.

He highlighted Pakistan's enhanced foreign exchange reserves and the robust performance of the stock market.

The Minister also mentioned the government's focus on areas of mutual interest such as climate financing, SME and youth loan schemes, aimed at promoting inclusive growth and development.

The Minister thanked Winters and his team for presenting his proposals on improving Pakistan's domestic banking industry, partnering with multilateral institutions, and enhancing Pakistan's access to international capital markets.

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