World-renowned economist Dr Asim Ijaz Khwaja has emphasized the need for innovative collaboration amongst financial institutions, lenders, and researchers to find solutions to problems in emerging economies.

He was virtually speaking at the 24th Zahid Hussain Memorial Lecture in Islamabad this evening.

It is pertinent to mention that Zahid Hussain was the founding father of Pakistan’s central bank.

Dr Asim Ijaz Khwaja, who is also a professor at Harvard University’s Kennedy School of Government, spoke at length on the topic titled “Democratizing Lending Challenges and Opportunities for Financial Inclusion in Emerging Economies. Shedding light on lending behaviours, the Harvard Professor said he is against unproductive lending. He said there is a need to connect people having money with those, who have innovative ideas to promote entrepreneurship. He said the promotion of Small and Medium Enterprises is the key to economic growth in any society.

A large number of people, including representatives of central banks of SAARC countries, financial institutions, the banking sector, intelligentsia, academia, and media attended the event.