Digital transformation a must for financial sector

State Bank of Pakistan (SBP) Deputy Governor Saleemullah has stressed that digital transformation is no longer optional but it is imperative for financial institutions and called for making investment in advanced analytics, artificial intelligence and automation alongside development of regulatory frameworks that balance innovation with stability. He was speaking at the 16th SaarcFinance seminar titled "Challenges and Opportunities in the Capacity Building of Central Banks and the Financial Industry: Lessons for Saarc Countries," organised by the SBP at the National Institute of Banking and Finance (Nibaf), Islamabad on Monday. The event brought together experts, policymakers and delegates from member countries of the South Asian Association for Regional Cooperation (Saarc) to discuss the critical issues shaping the future of central banking and financial systems.