RAWALPINDI, (DNA) – : The Rawalpindi Chamber of Commerce and Industry (RCCI) has organized Financial Technology conference (FinTech) here on Tuesday at a local hotel Rawalpindi.

The major purpose of this conference was to promote Information Technology (IT) and to bring awareness among key stakeholders for its use in financial management, lowering cost of production and enhancing innovation towards their businesses.

CEO FFC Lt. General ® Tariq Khan, who was chief guest on the occasion, in his address said that financial management offering big challenges and adaptation of modern information technology can help consumers in a big way.

A joint effort is required from the society and the government to evolve our key financial sectors, banking, insurance and corporate sector into modern digital format.

Technology is growing very fast and we must ready to meet the future challenge of security under financial management. He also appreciated RCCI role in promoting IT industry in the region lauded for organizing Financial Technology Conference.

Earlier, President RCCI Zahid Latif Khan in his address said in Pakistan the IT industry has great potential and urged Government to provide favorable environment in the country for the promotion of IT in different sectors including e-Banking, Medicine (telemedicine) and manufacturing (e-designing). He said in recent years E-commerce has double its penetration in Pakistan and said this will further grow in coming days
He said that IT sector is growing exponentially in Pakistan. It contributes around more than $2.8 Billion in the country’s export in IT sector and with Governemnt support this can be enhanced to 5 billion dollar in next three years. The RCCI chief also highlighted key initiatives of RCCI in promoting IT in the region including ICT awards and E-Health Conference.

With the increase of internet penetration in Pakistan, the IT sector offered huge potential for local companies to join hands with multinational companies, he added. He said e-commerce is the future mode of conducting business, and will provide an opportunity to small and medium enterprises (SMEs). Chairman Committee Raja Umer Iqbal also spoke on the occasion and said that twin cities have 40 percent share of the total business of ICT in the country as many multinational companies have established their offices there.

Representatives from Securities Exchange Commission (SECP), State Bank of Pakistan (SBP) and Pakistan Software Export Board (PSEP) also discussed the key initiatives for improving users experience in financial services with incorporation of information technology.

Senior Vice President Nasir Mirza, Vice President Khalid Farooq Qazi,former presidents,  members of the executive committee and a large number of IT companies’ representatives attended the conference.