Karachi, November 11, 2025 – State Bank of Pakistan (SBP) Governor Jameel Ahmad has called for deeper regional cooperation and innovation to create integrated capital markets that can drive sustainable growth, financial stability, and resilience across Asia.
Delivering his keynote address at the International Capital Market Conference 2025 in Karachi, the Governor commended the Securities and Exchange Commission of Pakistan (SECP) for organizing the landmark event that brought together policymakers, regulators, and market experts from across the region.
Speaking on the theme “Regional Integration and Innovation in Capital Markets: A New Era of Cooperation,” Ahmad underscored that in an increasingly interconnected global economy, regional market integration is not a choice but a necessity.
The Governor outlined three key aspects of integration — its importance, the pathway to achieving it, and Pakistan’s contribution to the process. He emphasized that regional capital markets can promote efficient capital allocation, harmonize regulations, and unlock new sources of funding, particularly for climate and infrastructure projects in countries with limited domestic financing options.
Citing successful examples such as the ASEAN+3 Asian Bond Markets Initiative and Eastern Caribbean Securities Market, he noted that collective regional action lowers transaction costs, diversifies risk, and expands investor participation.
To achieve similar progress, Ahmad highlighted four prerequisites: regulatory alignment, market connectivity, legal harmonization, and stronger collaboration among regional regulators and participants.
Discussing Pakistan’s role, the Governor said the country is now better positioned for structural and financial reforms under SBP Vision 2028 and the government’s Uraan Pakistan plan. Key initiatives include expanding the Raast instant payment system internationally via the Arab Monetary Fund’s Buna platform, and establishing a unified digital identity and KYC framework with SECP and PSX.
“The integration of our capital markets is a historic opportunity to strengthen financial stability and fund our own development,” Ahmad concluded. “With trust and collaboration, we can build a region that finances its own future.”