Pakistan needs best corporate practices: Shamshad
Governor State Bank of Pakistan Shamshad Akhter Thursday said that owing to high operational cost, mark-up rates of the banks had gone up. She asked banks to inform their customers before increasing or decreasing interest rates.
Addressing as chief guest at the convocation and prize distribution ceremony of the Institute of Bankers Pakistan, she opined that operational cost of the local banks could be curtailed by corporate governance. "Though Pakistan ranks first in South Asia in corporate governance, it still needs to adopt the best corporate practices implemented in more developed courtiers," Dr Shamshad said.
She maintained that keeping in view financial issues in America and other European countries, there was an urgent need to tighten the corporate governance.
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