BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//SZABIST University Islamabad - ECPv5.12.2//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:SZABIST University Islamabad
X-ORIGINAL-URL:https://szabist-isb.edu.pk
X-WR-CALDESC:Events for SZABIST University Islamabad
REFRESH-INTERVAL;VALUE=DURATION:PT1H
X-Robots-Tag:noindex
X-PUBLISHED-TTL:PT1H
BEGIN:VTIMEZONE
TZID:UTC
BEGIN:STANDARD
TZOFFSETFROM:+0000
TZOFFSETTO:+0000
TZNAME:UTC
DTSTART:20200101T000000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;VALUE=DATE:20200522
DTEND;VALUE=DATE:20200523
DTSTAMP:20260428T041539
CREATED:20200616T034438Z
LAST-MODIFIED:20200616T063036Z
UID:8109-1590105600-1590191999@szabist-isb.edu.pk
SUMMARY:NEW GLOBAL FINANCIAL ORDER "International Symposium on Financial Sustainability
DESCRIPTION:Platform for Shaping New World Financial Order Policy Recommendations Based on Financial Experts\, Academicians & Industry Practitioners Perspectives. Theme of International Symposium In purview of changing financial landscape of the World\, SZABIST (Islamabad) organized strategically important Global Financial Platform in collaboration with global financial experts\, Pakistan corporate sector practitioners\, academicians and financial scholars. This forum virtually invited financial discourse to determine New Global Financial Order in line with COVID-19 outbreak and its devastating impact on economic and financial system of the World. Looking into current systemic risk\, it is need of time to unleash traditional financial order by reshaping the Financial and Monetary Systems to provide financial resilience\, fiscal space and regulatory flexibility to Financial World. Consistent with theme of this Global Forum\, the agenda of International Financial Symposiums seminally captured following strands of discussions;\n– New Financial Governance\n– Fintech and Financial Democracy\n– Financial Markets Sustainability\n– New Age of Research and Curriculum Development\n– Policy Recommendations\nKey Insights\nThe moderator (Dr. Muhammad Naveed\, Associate Professor\, SZABIST\, Islamabad. Pakistan)\nintroduced the distinguished panelists and oriented the participants with broader agenda of\nInternational Financial Sustainability Symposium. He briefed the World economic situation and\nthe aim of this forum to explore the prospects of new financial and monetary settings in line with\nchanging landscape of the World. The Guest of Honor (Prof. Dr. Aamir Shamsi\, Dean Faculty of\nManagement Sciences\, SZABIST\, Pakistan) opened the formal procession of Global Forum with\nhis Welcoming Note by expressing the significance of this forum. He added that global eye is\nsearching for the view that how to unleash existing financial system that can instantly support\nIndividuals\, SMEs\, Startups and Corporations to address the economic collapse and financial\nfallout with sustainable system. Dr. Shamsi extended special thanks to global financial experts –\nDr. Suresh Ramakrishan (Financial Governance Expert – Deputy Dean “Research\, Innovation\,\nDevelopment & Alumni” University Technology Malaysia)\, Dr. Ahmad Raza Bilal (Global\nFinancial Expert and Head of Business Program\, Sohar University\, OMAN)\, Corporate Sector\nPractitioners\, SZABIST Faculty and Scholars for inviting this important platform.\nFinancial Governance The very first thought invited insights on financial governance. A strong firm and macro prudential governance structure can enhance endurance of financial system during difficult\ntimes. Moreover\, present financial crises differs from global financial crises in a way that GFC was primarily derived by financial misconducts by financial institutions and comprise on prime security; whereas\, in present situation economies are facing financial difficulties on account of health emergency.\nHow Financial Governance can ensure the efficacy of existing financial system to safely meet the needs of public\, SMEs\, Startups and Corporations during this Pandemic?\nHow can we apply the lessons learned from GFC? In line with significance of financial governance\, the panelists strongly banked their expert voice on following aspects;\n– Financial Governance has become critical issue since Asian Financial Crisis and Global\nFinancial Crisis. The economies those have learned good lessons are in better position to deal\nwith current economic and financial turmoil caused by COVID-19.\n– Resilience of firms is important driver in long run sustainability.\n– There is need to establish Financial Governance Triangle Model bridging Banks Governance\,\nCorporate Governance and Govt. Governance to address this systemic financial crisis.\n– Financial Market Impairment and revisit of IASs and IFRS pertinent to disclosure of Time\nSensitive Projects including Insurance\, Leasing\, Financial Risky Assets.\n– Unleash traditional ways of funds raising with new financial dial ups\, including\ndiversification\, Crowd Funding\, Solidarity Lending Groups\, Credit Unions\, Village Banking\,\nVenture Capital Modelling…etc. Fintech and Financial Flexibility The growing concern for emerging and\ndeveloping markets is the future of financial technology (Fintech). Many Fintech Companies which have grown rapidly over the past decade by lending to SMEs and households could collapse\nunder the stress of severe credit losses. What is Future of Financial Technology (Fintech) and how Fintech can enable quick policy and financial system response\, financial and regulatory flexibility and rapidly transform the Financial World Order with digital and contactless offerings? Consistent with underlying importance of changing landscape\, experts shared\ntheir seminal thoughtfulness as new pecking order;\n– Economic and Financial Inclusion is the priority of New Financial Order.\n– Intervention of Digital Banking\, Financial Technology and alternate source of financing are\npath breaking ways during this pandemic.\n– Customization of traditional banking system with advanced financial innovation.\n– New age of Financial World has taken the form of Society for Worldwide Interbank\nFinancial Telecommunication (SWIFT); Amazon Fintech\, PayPal\, Chatbot\, Mobile Apps\,\nFinancial Clicks are new drives of financial system providing more flexibility and addressing\nthe regulatory pressure.\n– Banking Sector in developing countries should establish RMA (Relationship Management\nApplication) contract with International Banks to discourage intermediate banking and also\nto avoid waste of transactional cost and time value of money\, and transaction taking place at\nequal foreign exchange rate.\n– There is need to timely address the cashflow issues otherwise it would create further\nhindrance in repayments and eventualities.\nFiscal Space and Financial Sustainability\nIn present scenario\, creation of fiscal space is highly important and according to IMF financial\nstimulus packages have been offered by a large number of counties depending upon their\neconomic strength. Most advanced economies are addressing this economic distress with\nsubstantial fiscal support\, many emerging-market and developing economies lack the fiscal space\nto adequately respond.\nTo create fiscal space for emerging and developing economies\, the experts signified the\nimportance of following measures;\n– FATF sanctions causing serious liquidity\, export and financial crunch among grey listing economies. For economies dealing with FATF sanctions in first instance and COVID-19 pandemic on the other hand\, it has created further financial distress. Considering this scenario\, it warrants the need that FATF should revisit its conditions and underlying sanctions which would provide more financial resilience and liquidity to have better adaptation of financial digitalization and fostering the documented economy. They further stressed the need to provide subsidized technology to developing economies by\ninternational regulatory and financial authorities. It would assist to create the fiscal space.\nThe acceleration of digitization will also help to improve smart lending that would boost\neconomy. Banks need to redevise the credit policies in harmony with COVID 19 crises and\ntogether with all these efforts cyber security system should be strengthen to safeguard\nfinancial system. Moreover\, participants stressed need of financial inclusion through\nsubsidized loaning process initiated by central banks. Following is the articulation of key\nmeasures; \n– Acceleration of digitalization by banking industry with smart lending capabilities will help\nbanks to provide digitally originated financial access to individuals\, SMEs and Corporations.\nIn return it would help the economy as well with better fiscal space.\n– Development of Smart landing capabilities would also help to avoid bankruptcies.\n– Development of COVID-19 Credit Policy.\n– Improving Technology without security is more disastrous. Significance of Cyber Security\narrangement is equally important; particularly working from home has become major\nchallenge for Banking Sector.\n– Banking new orientation should considerably focus on Smart lending windows\, Micro\nfinancing Windows and Startups. Financial Inclusion should come in picture with financial\nproducts and services which are affordable. Wave of Bankruptcies and Scope of Bankruptcy Law Bankruptcy wave has erupted in present financial scenario. The bankruptcy laws of most of developing countries offer only liquidation option\, failing to provide recapitalization relief. The Financial Bankruptcies have become critical issue in purview of systemic crisis which warrants the need to revisit the scope of Bankruptcy Law to protect financially distressed firms with recapitalization plans and intervention by Central Bank. The expert panelists and academic voice stressed that;\n– Central banks in Developing and Emerging Economies revisit Bankruptcy Law by providing\nscope of Re-capitalization / Rehabilitationeorganization to financially distressed firms.\n–  Government intervention through Central Banks to reduce this wave of bankruptcy.\n– Provision of Debtors’ Oriented Regime (Chapter 11- Re-organization) should be considered\nduring this COVID-19 crunch time.\n– There is need of support derived by government\, central banks and law making authorities to\nintroduce mechanism of supporting the sinking firms.\nNew Age of Research and Curriculum Development\nThe Global Forum also signified the thought to unleash research drives and academic curriculum\nwhich would relatively capture the scope of new Financial World Order in line with COVID-19.\nFollowing are seminally proposed areas;\n–  Scenario Based Events Studies\n–  Sectoral’s Effect on Economic and Financial Growth\n–  Portfolio Management before during and post COVID-19\n–  Fintech and Financial Inclusiveness\n–  Performance of Capital Markets under different Settings\n–  Firms’ Resilience during Financial Distress\n–  Systemic Financial Risk Management\n–  Digital Financial System\n–  Development of Digital Business Strategy in different Sectors of Economy\n–  Digital Business Leadership in Financial and Non-Financial Sector\n–  Digital Marketing and Service Industry\n–  Financial Ecosystem and Block chain\nSummary of Policy Recommendations\nFinance experts offered recommendations to improve resilience of financial system through\noperational resilience\, digitization\, supply of credit\, health and safety measures\, equal access of\ncitizen to digital financial services and centralized institutional network bringing swift payments\nwith minimum charges. Moreover\, recommendations also included bilateral trade based on a\ncommon currency rather than concentrating on any single currency.\nFollowing is summary of key recommendations and takaway of this Global Financial Forum;\n“Financial Governance Triangle Model” bridging Banks – Corporate – Govt. Governance\nFinancial Markets Impairment\nEconomic and Financial Inclusion as top priority of New Financial Order.\nSmart Digital Banking\, Financial Technology and proper Cyber Security Arrangement.\nSupply of credit to economies to provide resilience to entire financial system.\nOperational Readiness and Contingency Planning\nArrangement of Global Financial Network providing platform to equalize financial services.\nRevisit Bankruptcy Law\nFinance Curriculum Advancement and New Age of Research\nSession Closing\nThe International Symposium ended at final words of thanks by Dr. Aamir Shamsi and Dr. Muhammad\nNaveed revealing the fact that COVID-19 is big avenue for learning lessons and also to foster service of\nhumanity in the first defense.\nNEXT STEPS\nSZABIST Platform will continue to convene strategically important Thought Forums and Symposiums to discuss practitioners and knowledge experts’ perspectives on emerging financial\, economic\, social and digital risks strands evolving public policy during and after COVID-19.\nIf your institution is interested participating in these dialogues\, please contact Dr. Muhammad Naveed\n(dr.naveed@szabist-isb.edu.pk)\nACKNOWLEDGEMENTS\nSZABIST (Islamabad\, Pakistan) would like to thank the institutions participating in the\n“International Financial Sustainability Symposiums” for their commitment and contributions to\nthis multistakeholders dialogue\, as well as members of the Platform for shaping the “New World\nFinancial Order” who have participated in these potential discussions.\n–  Dr. Suresh Ramakrishan (Financial Governance Expert – Deputy Dean “Research\,\nInnovation\, Development & Alumni” University Technology Malaysia)\n– Dr. Ahmad Raza Bilal (Global Financial Expert and Head of Business Program\, Sohar\nUniversity\, OMAN)\n– Mr. Saqib Mahmood (Head of Corporate Affairs\, SC Technologies Global\, Pakistan) \nFrom the SZABIST\n– Mr. Khusro Pervaiz Khan (Head of Campus\, SZABIST\, Islamabad. Pakistan)\n– Prof. Dr. Aamir Shamsi (Dean\, Management Sciences\, SZABIST\, Pakistan)\n– Prof. Dr. Muhammad Asif Khan (HOD\, Faculty of Management Sciences\, SZABIST\,\nIslamabad. Pakistan)\n– Assoc. Prof. Dr. Muhammad Naveed (Global Financial Expert/Moderator\, Faculty of\nManagement Sciences\, SZABIST\, Islamabad\, Pakistan)\n– Finance Faculty (SZABIST Islamabad\, K
URL:https://szabist-isb.edu.pk/events-calendar/new-global-financial-order-international-symposium-on-financial-sustainability/
CATEGORIES:Fall 2020,SZABIST Events,Virtual Events
ATTACH;FMTTYPE=image/jpeg:https://szabist-isb.edu.pk/wp-content/uploads/2020/06/image.jpeg
END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20200522
DTEND;VALUE=DATE:20200523
DTSTAMP:20260428T041539
CREATED:20200721T035559Z
LAST-MODIFIED:20200721T042239Z
UID:9034-1590105600-1590191999@szabist-isb.edu.pk
SUMMARY:International Symposium on Financial Sustainability
DESCRIPTION:In the purview of COVID-19 causing serious economic and financial distress\, the scope of this forum is important for new financial settings of the World. \nThe symposium consists of Foreign Panelists\, Corporate Sector Experts\, Knowledge Partners\, and Scholars. \n  \n 
URL:https://szabist-isb.edu.pk/events-calendar/international-symposium-on-financial-sustainability/
CATEGORIES:ORIC,WorkshopandTrainings
ATTACH;FMTTYPE=image/jpeg:https://szabist-isb.edu.pk/wp-content/uploads/2020/07/International-Symposium-on-Financial-Sustainability.jpg
END:VEVENT
END:VCALENDAR