Financial sector urged to undergo high-tech transformation

Renowned economist Professor Amir Sufi says that as global markets increasingly shift toward high-tech services, including information technology and professional scientific services, the financial sector must undergo a fundamental transformation to keep pace. He was speaking at the 25th Zahid Husain Memorial Lecture hosted by the State Bank of Pakistan (SBP).The lecture series, which honours the transformative legacy of the SBP’s first Governor, Zahid Husain, convened an audience of diplomats, academics, banking industry leaders, business community and the family of the late Governor to discuss the evolution of the financial system in an era of high-tech growth. Professor Amir Sufi, the Bruce Lindsay Distinguished Service Professor at the University of Chicago and recipient of the 2017 Fischer Black Prize, delivered a compelling lecture on the structural transformation of modern economies.