Pakistan has assumed the chairmanship of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for 2026-27, the Ministry of Finance said on Monday, 2 November 2026.
Habib Bank Limited (HBL) Chairman Sultan Ali Allana has taken over as chairman of the consortium for the 2026-27 term. Pakistan is represented in the consortium by HBL.
The development coincides with Pakistan’s chairmanship of the Shanghai Cooperation Organisation (SCO) for the same period, reflecting the country’s role in promoting regional trade, investment, financial connectivity and economic cooperation, the Ministry of Finance said.
The SCO-IBC is a platform for financial cooperation among banks from SCO member states. Established in 2005, it aims to support investment projects, facilitate financing and strengthen banking ties across the region.
HBL joined the consortium as a partner bank in 2014 and became a member bank in 2018. It was nominated as chair of the consortium’s council for 2026-27 at the annual council meeting held in Bishkek, Kyrgyzstan, on 2 July 2026.
Pakistan became a full member of the SCO in 2017, having held observer status since 2005. It hosted the SCO Council of Heads of Government meeting in Islamabad in October 2024.
Sources: Dawn (2 Nov 2026), Express Tribune (2 Nov 2026), Business Recorder (2 Nov 2026).
Note: This image is an AI-generated illustration and is not a photo of the actual event.