Pakistan has assumed the Shanghai Cooperation Organisation Interbank Consortium chairmanship for 2026-27. The Ministry of Finance announced the development on Monday, marking another step in Pakistan’s regional economic engagement.
HBL Chairman Sultan Ali Allana has taken over as consortium head. Pakistan will use the role to promote regional trade, investment, financial connectivity and economic cooperation.
New Role to Strengthen Regional Financial Ties
The ministry said Pakistan’s consortium leadership coincides with its chairmanship of the Shanghai Cooperation Organisation. It congratulated Allana and reaffirmed the country’s commitment to stronger economic partnerships among member states.
Pakistan aims to facilitate cross-border trade and investment while advancing regional integration and shared prosperity. The consortium provides a platform for financial collaboration among SCO members and supports sustainable development across member countries.
Its objectives include expanding regional trade and investment through multilateral cooperation. It also explores mechanisms to support major cross-border projects and strengthen economic links.
Pakistan Expands Engagement Within SCO Framework
Pakistan is preparing to host the next meeting of the SCO Council of Heads of State. The country assumed the organisation’s chairmanship in September, expanding its responsibilities within the regional grouping.
Deputy Prime Minister Ishaq Dar said Pakistan moved from observer status to full membership in 2017. He described the upcoming leadership role as reflecting confidence in Pakistan’s regional and international engagement.
Pakistan hosted the SCO Council of Heads of Government meeting in Islamabad in October 2024. It currently chairs the organisation’s Regional Anti-Terrorist Structure for 2025-26.
Moreover, Pakistan holds the permanent chairmanship of an SCO working group on poverty alleviation. The group focuses on improving living standards across the region, adding a development dimension to Pakistan’s engagement.
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