LAHORE: The Pakistan Banks Association (PBA), in collaboration with the Special Investment Facilitation Council (SIFC), welcomed a high-level Saudi business delegation led by His Highness Prince Mansour bin Mohammad Al Saud, Chairman of the Saudi–Pakistan Joint Business Council (SPJBC).
The visit, spanning October 7–11, 2025, aimed to strengthen bilateral trade and investment cooperation between Pakistan and the Kingdom of Saudi Arabia, in line with both countries’ shared vision for enhanced economic integration and long-term strategic partnership.
The delegation comprised senior investors and business leaders representing key sectors such as investment holdings, financial services, agriculture and livestock, energy, infrastructure and construction, real estate, hospitality, and food security.
The Lahore session brought together Pakistan’s banking leadership, industrialists, and entrepreneurs for direct dialogue with the Saudi delegates. Discussions highlighted Pakistan’s comparative advantages and investment-ready opportunities across agriculture security and corporate farming, tourism and hospitality, education and healthcare, IT and artificial intelligence. Dedicated business-to-business engagements explored joint ventures and partnerships in these priority areas.
As Pakistan unlocks new avenues of growth, its banking sector, spearheaded by the PBA in partnership with the Government of Pakistan and the State Bank of Pakistan, continues to play a pivotal role in building investor confidence.
In recent years, the sector has pursued wide-ranging modernisation efforts, particularly in accelerating digitisation across the financial ecosystem. Initiatives such as cross-bank eKYC, the Financial Data Exchange, and fintech collaborations have driven a significant rise in financial inclusion. The Rs. 2.41 billion retail digital transactions, valued at over Rs. 164 trillion in the most recent quarter, stand as a testament to the industry’s strong commitment to advancing Pakistan’s cashless and documented economy.
Aligned with Pakistan’s broader investment vision, the banking sector is also driving growth in SME and agricultural financing — two areas offering strong potential for international collaboration. Through credit guarantee schemes and supply chain financing solutions, banks are now supporting over 300,000 SMEs, a 57 percent increase from last year, with SME lending expanding by 41 percent year-on-year as of June 2025. In parallel, agricultural lending has surpassed Rs. 2.5 trillion, benefiting nearly 2.9 million farmers through various initiatives. These advancements underscore the sector’s role in enabling inclusive growth and creating scalable investment opportunities across segments, positioning Pakistan as a compelling destination for strategic foreign investment.
The session also underscored the banking industry’s central role in Pakistan’s economy. As the largest taxpaying sector, banks contribute nearly USD6 billion in taxes overall, with the highest tax rates (effectively between 55 and 59 per cent) in South Asia. The industry continues to finance almost entirely the country’s fiscal deficit, driving fiscal stability, economic growth, and investor confidence.
The event also witnessed the signing of two Memorandums of Understanding (MoUs) between the visiting delegation and members of Pakistan’s business community, focusing on collaboration in the education and information technology (IT) sectors.
The session concluded with a shared commitment of PBA, SIFC, and Pakistan’s business community to facilitate sustainable Saudi investment across other key industries, promote mutual trade and technology exchange, and build a forward-looking partnership that marks the beginning of a new era in Saudi–Pakistan economic cooperation.
Copyright Business Recorder, 2025
