Ladies and Gentlemen; Since I have discussed various challenges that the banking industry is facing and certain worrying developments that are threatening its performance, let me briefly share with you what we at the Page 9 of 15  State Bank of Pakistan (SBP) have done so far and plan to do in the future to transform our banking sector.
Initially they proposed to introduce a Single Currency in 2003, but subsequently agreed to launch the new single currency in 2015. As these countries are represented at this conference, you will benefit from updates on progress made with this initiative.