*** As prepared to deliver in the event Dr. Akbar Zaidi, Executive Director, IBA Karachi; Dr. Abdullah Zafar Sheikh, Dean, School of Business Studies; Dr. Asad Ilyas, Registrar IBA; Dr. Sana Tauseef, Chairperson, Department of Finance; Dr. Mohsin Sadaqat, Assistant Professor and Head of Finance Lab; Mr. Azfer Naseem, CEO, Alpha Capital, IBA's faculty and Students; and Ladies and Gentlemen.
Structural reforms thus crucially complement the ECB’s accommodative monetary policy stance and further empower the effective transmission of monetary policy. As I have indicated now at several occasions, no monetary – and also no fiscal – stimulus can ever have a meaningful effect without such structural reforms.