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Financial sector assets are now 125 percent of GDP: Dr Akhtar

www.dailytimes.com.pk

The assets of country’s financial sector have grown to $180 billion or 125 percent of the Gross Domestic Product, said Dr Shamshad Akhtar, Governor State Bank of Pakistan (SBP), on Saturday. She said its assets were only 95 percent of GDP in 1997.

Speaking at the convocation of the Institute of Bankers Pakistan (IBP), the governor said, “Financial stability in Pakistan has benefited from structural transformation of the banking sector and wide-ranging policy initiatives of the State Bank.”

“The country’s prudential regulatory regime has been crafted to promote and preserve financial sector stability and for this purpose the State Bank has set up a Financial Stability Department,” she said.

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