PR No. 142

The annual Singapore Fintech Festival was formally launched on 15th November 2023, centring around critical themes such as the application of AI in financial services, financial inclusion, and sustainability, bringing together more than 62,000 participants and 10,000 organisations from 134 countries to showcase the latest trends and advancements in the financial technology industry. To inaugurate the festival, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), delivered a keynote address focusing on the advancements in the international digital finance sector. The President of Singapore Tharman Shanmugaratnam participated in a fireside chat and spoke on the rise and challenges of the AI trends in Singapore. The festival was concluded at a speech by the President of World Bank, Mr. Ajay Banga. The Pakistan Pavilion set up by Invent Global, an exhibition experience provider, was inaugurated by the High Commissioner and Deputy Governor of SBP Mr. Saleem Ullah. The pavilion showcased seven fintech companies including Red buffer, Vizz Web Solutions, Dimensional Sys, EastRiver, Botwa Fintech, E.ocean and Emblem. The Bank of Punjab-sponsored Sprint Pakistan Hackathon's three finalists, Investors Lounge, Digi Khata and were provided complimentary booths by SFF at the Talent Zone. The other finalists of Sprint Pakistan attended the event without having a pavilion. The highlight of the festival included a networking dinner hosted by the High Commissioner at Pakistan house on 14th November, to which the top leadership of Monetary Authority of Singapore, Singapore Fintech Association, Apix Singapore and Global Fintech Institute, in addition to leading banks including HSBC, Standard Chartered and OCBC were invited. The dinner provided an excellent opportunity to young Pakistani entrepreneurs to network with their Singaporean counterparts and high-ranking tech executives. The other highlights were: a. Dr Sara Saeed, CEO of Sehat Kahani’s speech at the prestigious “Founders Peak” at SFF where she shared her success story as a founder with other founders. b. Deputy Governor SBP’s speech and discussion at the Regulators Stage at SFF sharing Pakistan’s experience of financial crimes prevention. He shared the stage with the Deputy Governor of Turkish Central Bank. c. Pakistan fintech delegation’s visits and networking at Google, Meta and Stripe offices, arranged by the High Commission for exclusive networking and knowledge sharing sessions. d. Deputy Governor SBP’s visit and meeting with the Vice President of Meta, Singapore. e. Lunch hosted by the UK-based Centre for Finance, Technology and Entrepreneurship for Deputy Governor SBP, HBL team and the High Commissioner to explore courses on financial technologies and entrepreneurship for Pakistani bankers/finance professionals. f. Pakistan fintech delegation’s participation in the SMEs Forum hosted by the World Bank IFC at SFF. Participation of the Pakistani fintech delegation in the Singapore Fintech Festival 2023 and events on the side line was a significant milestone for the promotion of innovation and collaboration between Pakistan and the global fintech industry. It showcased the growing strength and potential of the Pakistani fintech sector on a global stage.