assessments of various products from upstream to downstream and across the thread of bazaars and logistic chain. fourth, in order to encourage lending based on reputational collateral, the lab may also encourage collaboration with credit bureaus to test and to create credit scoring models, especially those based on alternate data or otherwise aimed at the segment of individuals and businesses that have no collateral and little or no credit history. lastly, perhaps the most important consideration for the finance lab is how to encourage savings in the country, where particular emphasis may include increasing the awareness of individual savers across the country to understand the risks and returns associated with different avenues, and increasing retail investments in government debt papers and corporate bonds. let me conclude by reiterating my best wishes for the lab. i hope iba's finance lab will facilitate financial institutions in pakistan to rethink and reinvent business models and provide strong product offerings by embracing technology and adopting customer centric approach. i hope that the lab would facilitate great collaboration between the industry and academia to solve topical and long - unsolved problems, and allow students to expand their horizon beyond the classroom. thank you for your attention! 3 / 3 bis - central bankers'speeches

jameel ahmad : keynote address - inauguration of institute of business administration's finance lab keynote address by mr jameel ahmad, governor of the state bank of pakistan, at the inauguration of institute of business administration's finance lab, karachi, 14 november 2022. * * * as prepared to deliver in the event dr. akbar zaidi, executive director, iba karachi ; dr. abdullah zafar sheikh, dean, school of business studies ; dr. asad ilyas, registrar iba ; dr. sana tauseef, chairperson, department of finance ; dr. mohsin sadaqat, assistant professor and head of finance lab ; mr. azfer naseem, ceo, alpha capital, iba's faculty and students ; and ladies and gentlemen. assalam o alaikum and good afternoon! it is my pleasure to be here amongst all of you at the inauguration of this finance lab and sharing my thoughts with the distinguished audience. let me begin by congratulating the institute of business administration, karachi and the alpha capital on taking this innovative initiative of establishing this finance lab. i hope this lab will bridge the gap between industry and academia, and between theory and practice in the area of finance by providing students an opportunity to immerse themselves into real - world problems faced by individual corporations and the country's financial system at large. there are several key challenges to industry - academia collaboration and concerted efforts are required to overcome them. some of the key challenges faced in this regard are that : ( 1 ) universities tend to contribute to theory or empirical research with aims to get published in academic journals, while businesses are constrained by their mandate of profitability ; ( 2 ) businesses typically work on much shorter deadlines and aim for speedy results, whereas research work is inherently time intensive ; ( 3 ) not all corporations have sufficient funds to invest in research on product or process innovation, market development, and market intelligence. there is, therefore, a pressing need to establish and strengthen a formal collaboration mechanism between academia and industry for designing courses and setting research agenda that serves the objectives of both businesses and academia. in this regard, trade organizations can play an instrumental role in providing a consultative platform as well as arranging funds to finance academic research, given their ability to identify key areas of research and pool in required resources. ladies & gentleman, i would like to briefly highlight the status and recent trends in financial system landscape, wherein this lab will be operating. in pakistan