In these few minutes, I will cover the need for specific regulations for SIFIs, progress made so far in designing the policy framework, perspectives of emerging markets in general and Pakistan in particular, regulatory challenges faced by supervisory authorities, and what remains to be done.
The mounting risks and uncertainties emerging within the financial globalization process also underscore the importance of the central bank role in guiding public expectations. Within this context, the credibility of the central bank is crucial. To this end, transparency, accountability, and effective communication must be integral to the entire monetary management process.