Pakistan has assumed the chairmanship of the Shanghai Cooperation Organisation Interbank Consortium (SCO-IBC) for 2026–27, with HBL Chairman Sultan Ali Allana taking charge of the regional financial cooperation platform, the Ministry of Finance announced on Monday.
The ministry said the development coincided with Pakistan’s chairmanship of the SCO during the same period, strengthening the country’s role in promoting regional trade, investment and financial connectivity.
“The development coincides with Pakistan’s chairmanship of the SCO for the same period, reflecting the country’s role in promoting regional trade, investment, financial connectivity and economic cooperation,” the ministry said in a statement.
Congratulating Allana on assuming the responsibility, the ministry reaffirmed Pakistan’s commitment to expanding economic partnerships among SCO member states, facilitating cross-border investment and strengthening regional integration.
The SCO Interbank Consortium serves as an important mechanism for financial cooperation among member countries, supporting sustainable development, investment opportunities and financing arrangements for major regional projects.
The consortium also works with multilateral financial institutions to explore innovative funding mechanisms for transnational infrastructure and development initiatives.
Pakistan is additionally preparing to host the next meeting of the SCO Council of Heads of State after assuming the organisation’s chairmanship in September.
The development reflects Pakistan’s expanding engagement with the regional organisation, whose activities increasingly encompass economic development, trade and connectivity alongside its traditional focus on security cooperation.
Deputy Prime Minister and Foreign Minister Ishaq Dar has previously highlighted Pakistan’s evolution from an SCO observer to a full member in 2017, describing its participation as an expression of the country’s commitment to multilateralism and regional cooperation.
Dar has also characterised Pakistan’s upcoming leadership role as a reflection of the confidence placed in its regional and international engagement.
Pakistan previously hosted the SCO Council of Heads of Government meeting in Islamabad in October 2024 and currently chairs the organisation’s Regional Anti-Terrorist Structure for 2025–26.
The latest appointment is expected to provide Pakistan with an opportunity to advance financial cooperation, encourage investment and support economic connectivity across the SCO region.