Innovation only way forward for Pak progress

STAFF REPORT ISB: Panelists, participants and stakeholders of a conference agreed that innovation was the only way forward for Pakistan and there was a need to synergise the digital and financial end of the market.

They were speaking at a recently held conference “Make in Pakistan and innovation awards” in Islamabad.

Tameer Bank President Nadeem Hussain enlightened the audience that ever since 1947 the entire commercial banking industry had only opened 25 million unique bank accounts.

“We need to put an effort to ensure that a normal citizen can open a bank account and become a part of the formal financial system and help him/her get involved with e-commerce and digital cash,” he said.

Bank Alfalah Digital Banking Head Amaar Ikhlas said that 2016 would see a clear synergy from the digital and financial end of the market.

Meenah Tariq, an entrepreneurial consultant, said that “the conferences such as this create space for a lot of crucial conversation that doesnt happen otherwise or happens in silos and thus doesnt impact change in the broader sense.

“By bringing together various stakeholders of innovation and entrepreneurship, they are encouraging collaborations between organisations that have the same agenda – the agenda of innovation and growth,” she said.

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