Meezan Bank secures top accolades at banking awards
Following its recognition as the Best Consumer Bank last
year, Meezan Bank Ltd has clinched the title of 'Best Bank' at the eighth
Pakistan Banking Awards 2023, held on Friday.
This year saw an increase in the number of participating
banks compared to the previous year, with the addition of two new categories to
encompass Fintech companies.
The award ceremony, organized by the Institute of Bankers
Pakistan in collaboration with the Dawn Media Group and A.F. Ferguson and
Company, featured State Bank Governor Jameel Ahmed presenting the 'Best Bank'
award to Irfan Siddiqui, founding president and CEO of Meezan Bank.
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Addressing the audience, Governor Jameel Ahmed discussed the
five-year 'Vision 2028' plan, emphasizing the need for banks to accelerate
their adoption of the latest technology, particularly in the realm of
digitalizing the financial sector. He underscored the challenges posed by
next-generation digital banking and stressed the importance of staying abreast
of global trends through the adoption of cutting-edge technology.
Governor Ahmed highlighted the transformative impact of
digital banking on the industry, emphasizing the importance of stability,
financial inclusion, and enhanced cybersecurity measures for the financial
sector. He expressed concern over the widening gender gap in financial access
and urged banks to improve their cybersecurity plans to mitigate potential
shocks.
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Emphasizing the pivotal role of a strong and resilient
financial system in achieving macroeconomic stability and sustainable economic
growth, Governor Ahmed reaffirmed that financial stability remains a key
priority for the State Bank of Pakistan (SBP). While addressing the gender gap,
he noted a significant disparity in financial access, with men outnumbering
women among accountholders at a ratio of 3:1.
The award ceremony also recognized other banking
institutions, with Habib Bank receiving three awards and Bank Alfalah retaining
its title as the best digital bank for the second consecutive year.
List of Award Winners:
Best Bank: Meezan Bank
Best Microfinance Bank: HBL Microfinance
Best Digital Banking: Bank Alfalah
Best Emerging Bank: Faysal Bank
Best Bank in Agri Financing: Habib Bank
Best Bank for Small and Medium Businesses: Bank of Punjab
Best Consumer Bank: Habib Bank
Best Bank for Inclusion: Mobilink Microfinance Bank
Best Fintech (Non-Bank Entity): Haball and NayaPay
Best Contribution by Non-Bank Entity: National Rural Support
Programme
Source: Dawn