Pakistan is at the top in corporate governance in the South Asian countries but still a lot of improvement is needed, said State Bank of Pakistan Governor Dr Shamshad Akhtar on Thursday.
She was addressing at the convention of The Institute of Bankers Pakistan held at a local hotel. She said that the need of better corporate governance is growing, as the financial scandals in the world are increasing. She said that the interest rates have increased due to increase in operational cost of the banks. “It could be reduced through good corporate governance,” she said adding that Pakistan is leading the South Asian countries in corporate governance. The SBP governor was of the view that the better management would decrease the risk in banking sector and improve the discipline. She said though foreign banks operating in the country have corporate governance but it is need of the hour that local banks also follow it.
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