SDSB Speaker Session -Unpacking Recent Failures of US Banks and Lessons for the Financial Sector of Pakistan

On Monday, January 15, 2024, SDSB-LUMS welcomed Mr. Saad P. Aslam (MBA ‘97), the Executive VP and Head of Credit Review at Citizens Bank, for an insightful in-person presentation. Mr. Aslam shared his expertise on "Unpacking Recent Failures of US Banks and Lessons for the Financial Sector of Pakistan." A graduate of both Lahore University of Management Sciences and The Johnson School, Cornell University, Saad's experience positioned him as an expert to provide valuable insights into recent US bank failures and their relevance to Pakistan's financial landscape.

The presentation covered a historical perspective on US bank failures in 2023 and the financial system of Pakistan. Mr. Aslam emphasised recent stress test results and identified the challenges faced by the country’s financial sector. He highlighted the absence of a unified set of standards defining responsible business conduct (RBC) in the country, the need for broader awareness, and the establishment of strategic documents outlining RBC standards and goals. Additionally, he pointed out the issue of poor financial inclusion and the necessity to extend financial services to the underserved, neglected, and impoverished segments, emphasising the role of investments in supporting various sectors. Saad P. Aslam stressed the importance of diversification across industries, robust liquidity management frameworks, effective regulatory oversight, sound corporate governance practices, and the promotion of financial inclusion.

Guests at the event included students, staff, and faculty from LUMS, reflecting the commitment of the institution to connecting its stakeholders with industry leaders. The engaging session offered a comprehensive understanding of recent US bank failures and left a lasting impact on discussions about fortifying Pakistan's financial sector.

The SDSB Speaker Series continues to fulfil its mission of providing valuable learning experiences, fostering academic-industry collaborations, and inspiring the academic community. We look forward to future sessions that will continue to inspire and educate our students.