Hansuke set to enter Pakistan to assist financial institutions to meet international standards

Published on 10th Oct, Edition 41, 2016

 

Ali Kazimi, MD of Hansuke, believes that Pakistan’s economy and international developments present great opportunities for the local financial services sector

Hansuke Consulting Limited (‘Hansuke’ or ‘the firm’) is a UK-based international consulting firm that serves leading businesses, governments, non-governmental organizations, and not-for-profits.

Hansuke is authorized and regulated by the Institute of Chartered Accountants in England and Wales. With over 100 years of cumulative knowledge and experience in the financial services industry, Hansuke delivers outstanding results for its clients.

The firm is led by Ali Kazimi, who was formerly a partner at Deloitte UK and Deloitte Middle East region. Various members of the Hansuke team are at the forefront of global regulatory developments.

Pakistani financial services sector

Pakistan’s financial system stands at a strategic crossroads. With wider socio-political and economic change afoot, now is the ideal opportunity for the financial services sector to address both international and domestic challenges.

Banking remains one of Pakistan’s best performing sectors. The capital adequacy ratio — a measure of solvency — stands at 18.2 percent, which is well above the benchmark of 10 percent set by the State Bank of Pakistan.

 

Opportunities

One major challenge, in the domestic market, is the lack of penetration within hitherto excluded population segments, which are largely absent from the formal financial services sector. Beyond the simple banking products, the savings and investment sector also remains underdeveloped.

The success of organizations offering Islamic finance services shows the potential for a deeper and wider penetration of the market remains unexploited.

Brexit and the rise of the fintech sector have opened up new avenues for enterprising Pakistani financial services companies to expand both locally as well as into international markets.

Hansuke in Pakistan

Ali Kazimi, states that “We at Hansuke, believe in the resilience of Pakistan’s financial services sector and are working with local groups to help them operate in an international setting”.

Hansuke are planning on hosting an international banking conference in Karachi to bring together industry practitioners, opinion formers and policy makers.