Regarding the regulatory approach of SBP, I would like to quote short excerpts here from my speech at the Pakistan Microfinance Country Forum: “In developing regulations for microfinance, the State Bank has pursued a bottom-up approach, along with use of strong analytical and problem solving skills and industry consultation.
Since the inception of microfinance banking in Pakistan, our goal has been to determine the proportionality of a regulation before it is put in place. Hence, the regulatory approach has remained gradual and in line with the evolution of the sector…” “In the new Microfinance Strategic framework 2011–15, SBP has laid out a detailed strategy to promote sustainable growth of the sector.