The 36th SAARCFINANCE (Network of Central Bank Governors and Finance Secretaries of the SAARC Region) Group Meeting and the 14th SAARCFINANCE Governors’ Symposium was recently held on 27th June in Nepal, hosted by Nepal Rastra Bank. The underlying agenda for both the meetings was to develop a common platform for strengthening Digital Payment System in the SAARC region.
Why it matters:
- The group meeting was attended by Governors and Finance Secretaries and other delegates from the Central Banks and Ministries of Finance in the SAARC region. The main point of discussion for the meeting was enhancing coordination and cooperation between the SAARCFINANCE members.
- The Symposium was attended by the Governors and Deputyn Governors of the Central Banks of the Member States of SAARC. It was inaugurated by the Chief Guest Honorable Finance Minister of Nepal, Dr. Yuba Raj Khatiwada. The theme of the symposium was “Developing a Common Platform for Strengthening Digital Payment System in the SAARC Region.”
- The keynote address for the symposium was delivered by Mr. Harish Natarajan, Lead Financial Sector Specialist of the World Bank. H.E. Mr. Amjad Hussain B. Sial, the Secretary-General of SAARC delivered a special address on the occasion.
- The symposium was divided into three main sessions, the first two sessions were presentation sessions, where each of the eight-member central banks delivered a country paper presentation.
- The third session was a roundtable discussion on the main theme; chaired by Governor Dr. Nepal with four panelists, Mr. Dasho Penjore, Governor, Royal Monetary Authority of Bhutan; Mr. Shamshul Hasan, Deputy Governor, State Bank of Pakistan; Dr. Alfred Hannig, Executive Director of Alliance for Financial Inclusion (AFI); and Mr. Harish Natarajan of the World Bank.
- The primary objective of SAARCFINANCE is to share experiences on macroeconomic policy issues and promote collaboration among the monetary authorities in the region.