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KARACHI, Nov 12 (APP):Systems Limited, in collaboration with Microsoft, IBM, AWS, Temenos, Formpipe and Dell Technologies – Awan distribution, hosted the 14th edition of the Bank of the Future Forum (BOFF) — most influential and anticipated event of Pakistan’s banking industry.
This year’s forum, themed “Re-imagining the Future of Banking with AI,” focused on how artificial intelligence is transforming the financial landscape.
The day commenced with opening remarks by Ammara Masood, GM Global BFS at Systems Limited, setting the tone for an insightful day of discussions around the role of AI in shaping next-generation banking.
The inaugural keynote was delivered by the Governor, State Bank of Pakistan Jameel Ahmed who outlined SBP’s vision for guiding the financial sector’s transition towards an AI-driven future.
Jameel Ahmad has said that the Bank’s focus is on increasing and stabilizing remittances, emphasizing that the recent rise in remittances is not solely due to the incentive scheme.
“If the increase were only because of the incentive scheme, the growth trend would have reversed by now,” He added that Pakistan is working to integrate with global payment systems.
Speaking further, the SBP Governor said that as the world moves toward digital currencies, Pakistan must also adapt. “The State Bank is working internally on developing a digital currency, though creating a central bank digital currency is not an easy task,” he remarked.
On the topic of digitization and artificial intelligence (AI), Governor stated that the Bank’s focus remains on the digitalization of financial services. “Workplaces have become digital, and financial services are evolving rapidly. Consumers now demand secure and convenient banking. Cloud computing and artificial intelligence have revolutionized financial services,” he said.
Highlighting the Bank’s progress, the Governor revealed that in fiscal year 2025, Pakistan recorded 9.5 billion digital transactions, of which 68% were conducted through mobile apps and 5% via cards and internet banking. He said the Know Your Customer (KYC) system is running successfully, and 15 more banks are set to adopt it soon.
However, he stressed that alongside these technological advancements, banks need to invest in these emerging technologies. The SBP, he added, is strengthening its cybersecurity framework to ensure data protection. “With AI, our responsibilities have increased — customer privacy has become even more important. Any cyber fraud can damage public trust,” he warned.
Concluding his remarks, Ahmad said Pakistan’s digital financial services are moving toward innovation, where banks and fin-tech companies play a vital role. The State Bank will continue its efforts to build and strengthen the digital financial ecosystem, he affirmed.
In a powerful keynote, Asif Peer, CEO & Managing Director, Systems Limited, shared how AI is redefining every aspect of banking, from customer engagement and operational efficiency to risk management and innovation.