On Friday, Jameel Ahmad, the Governor of the State Bank of Pakistan (SBP), launched SBP Vision 2028 during a ceremony in Karachi, outlining the strategic plan for the period 2023-2028. This plan, the first introduced after amendments in the SBP Act, articulates the central bank’s vision, mission, and key objectives for the next five years. The development of this strategic plan involved a consultative and inclusive process engaging key stakeholders.

During the event, Governor Ahmad emphasized that SBP Vision 2028 signifies the central bank’s dedication to promoting price and financial stability while contributing to the sustainable economic development of the country. He noted that the plan takes into account evolving risks and challenges, including climate change, rapid digital innovations, disruptions, and increasing cybersecurity threats.

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Governor Ahmad elaborated on the six strategic goals of SBP Vision 2028, which encompass maintaining inflation within the medium-term target range, improving the efficiency, fairness, and stability of the financial system, advocating for inclusive and sustainable access to financial services, transitioning into a Shariah-compliant banking system, establishing an innovative and inclusive digital financial services ecosystem, and transforming SBP into a technologically advanced, people-centric organization.

These strategic goals are designed to address five cross-cutting themes, namely strategic communication, climate change, technological innovation, diversity and inclusion, and productivity and competitiveness.