HBL has been nominated to serve as the Chair of the Council of the Shanghai Cooperation Organization Interbank Consortium (SCO IBC) for the 2026-27 term, marking a significant milestone for Pakistan’s banking sector and reinforcing the country’s growing role in regional financial cooperation.
The announcement was made during the Annual Council Meeting of the SCO Interbank Consortium, held on 2 July 2026 in Bishkek. HBL’s appointment reflects its longstanding contribution to strengthening financial collaboration among member states of the Shanghai Cooperation Organization.
The Shanghai Cooperation Organization is the world’s largest regional organization, bringing together ten member countries, including Pakistan, China, Russia, Kazakhstan, and Kyrgyzstan. Representing around 42 percent of the global population, the SCO serves as a key platform for promoting political, economic, and security cooperation across the region.
The SCO Interbank Consortium plays a vital role in supporting financial integration by fostering partnerships among leading banks from member countries. Through collaborative initiatives, the consortium aims to facilitate trade, investment, infrastructure development, and cross-border financing within the SCO region.
HBL first joined the SCO IBC as a partner bank in 2014 before becoming a full member bank in 2018. Since then, the bank has actively participated in initiatives designed to strengthen regional economic connectivity and expand financial cooperation among member institutions.
This year’s appointment is particularly significant as Pakistan prepares to assume the Chairmanship of the SCO Council of Heads of State in September 2026, highlighting the country’s increasing engagement within the regional organization.
Speaking on the occasion, Sultan Ali Allana described the nomination as an honour and reaffirmed HBL’s commitment to advancing regional financial integration. He noted that the SCO Interbank Consortium has demonstrated how cooperation among financial institutions can promote inclusive economic growth, facilitate investment, and strengthen trade across member states.
HBL stated that it will continue working closely with fellow member banks to support the SCO’s broader objectives of economic connectivity, sustainable development, and shared prosperity. The bank’s leadership role is expected to further enhance collaboration between financial institutions while reinforcing Pakistan’s position in regional economic initiatives.
