Pakistan assumes chairmanship of SCO Interbank Consortium
Pakistan has assumed the chairmanship of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for 2026-27, with HBL Chairman Sultan Ali Allana taking over as chairman of the consortium. The development coincides with Pakistan’s chairmanship of the SCO for the same period. In a statement on Monday, the Ministry of Finance congratulated Allana on assuming the responsibility and…
Pakistan has been appointed to chair the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for the years 2026-27. On this occasion, HBL Chairman Sultan Ali Allana is set to become the new chairman of the consortium. This announcement was made on Monday by the Ministry of Finance, which expressed its congratulations to Allana and reiterated Pakistan's dedication to enhancing economic ties among SCO member nations.
The SCO-IBC is a vital platform for financial cooperation among SCO member states, aiming to promote sustainable growth through collaboration with international institutions, boost regional trade and investment, and explore new methods for developing large-scale projects that span multiple countries. HBL, Pakistan's largest bank, first joined the consortium as a partner bank on August 8, 2014, and later became a member bank at the 14th annual council meeting in June 2018.
The bank was nominated to chair the SCO-IBC's Council for the 2026-27 term during the annual council meeting held in Bishkek, Kyrgyzstan on July 2, 2026. This nomination aligns with Pakistan's upcoming chairmanship of the SCO Council of Heads of State in September 2026.
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