Pakistan has assumed the chairmanship of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for 2026-27, with Habib Bank Limited (HBL) Chairman Sultan Ali Allana taking over as chairman of the consortium, the Finance Ministry said.
The development coincides with Pakistan’s chairmanship of the SCO for the same period, including the Council of Heads of State role assumed in September 2026.
What the Finance Ministry said
In a Monday statement, the ministry congratulated Allana and reaffirmed Pakistan’s commitment to stronger economic partnerships among SCO member states, cross-border trade and investment, and regional integration.
The SCO-IBC is described as a platform for financial collaboration among SCO members. It aims to work with multilateral institutions, lift regional trade and investment, and explore mechanisms for transnational mega projects.
How HBL reached the chair
HBL, Pakistan’s largest bank, joined the consortium as a partner bank on 8 August 2014 and became a member bank at the 14th annual council meeting in June 2018. It was nominated as chair of the SCO-IBC council for the 2026-27 term at the annual council meeting held on 2 July 2026 in Bishkek, Kyrgyzstan.
Aasan alfaaz mein
Pakistan ne SCO Interbank Consortium ki sadarat 2026-27 ke liye sambhal li hai. HBL ke chairman Sultan Ali Allana consortium ke chairman banay hain. Yeh qadam Pakistan ki SCO chairmanship ke sath milta hai. Is se regional trade aur investment links mazboot karne ka raasta khulta hai.
