{
  "id": 17765675,
  "title": "Pakistan assumes chairmanship of SCO Interbank Consortium for 2026-27",
  "url": "https://urgent.news/2026/11/02/pakistan-assumes-chairmanship-of-sco-interbank-consortium-for-2026-27-17765675",
  "topic": "world",
  "section": "World",
  "published": "2026-11-02T07:25:43.000Z",
  "source": {
    "name": "Dawn",
    "slug": "dawn",
    "url": "https://www.dawn.com/news/2041585/pakistan-assumes-chairmanship-of-sco-interbank-consortium-for-2026-27"
  },
  "original_language": "en",
  "account": "Pakistan has taken on the leadership role of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for the fiscal years 2026-27, the Ministry of Finance announced on Monday. Sultan Ali Allana, Chairman of HBL, has been appointed as the head of the consortium during this period. The statement highlighted that this development aligns with Pakistan's own chairmanship of the SCO for the same duration, underscoring the nation's commitment to fostering regional trade, investment, financial connectivity, and overall economic cooperation. The Ministry of Finance expressed its congratulations to Allana on his new responsibility, reiterating Pakistan's dedication to enhancing economic partnerships among SCO member states, facilitating cross-border trade and investment, and fostering regional integration and shared prosperity.\n\nThe SCO-IBC serves as a crucial platform for financial collaboration among SCO member states. Its objectives include promoting sustainable development through cooperation with multilateral institutions, boosting regional trade and investment, and exploring innovative mechanisms for the development of transnational mega projects. In addition, Pakistan is scheduled to host the next meeting of the SCO Council of Heads of State (CHS) following its assumption of the chairmanship in September. This progress underscores Pakistan's increasing involvement with the SCO, which has transitioned from security cooperation to a broader focus on economic development and regional connectivity since 2017. Deputy Prime Minister and Foreign Minister Ishaq Dar emphasized that Pakistan's membership in the SCO has evolved from observer status to proactive full membership over the past few years, reflecting the country's confidence in its regional and international leadership. Currently, Pakistan is also chairing the SCO's Regional Anti-Terrorist Structure for the periods 2025-26 and holds the permanent chairmanship of an SCO working group dedicated to poverty alleviation.",
  "summary": "Pakistan has assumed the chairmanship of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for 2026-27, the Ministry of Finance said on Monday. HBL Chairman Sultan Ali Allana has taken over as head of the consortium for the period. “The development coincides with Pakistan’s chairmanship of the SCO for the same period, reflecting the country’s role in promoting regional trade,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}