Reza Baqir’s salary and banking woes - this week in Pakistan’s business and economics twitterverse

Reza Baqir’s salary and banking woes

this week in Pakistan’s business and economics twitterverse

We have some serious issues on our mind this week. Legacy banks are trying to keep up with all of the changing fads in the banking industry and there are questions being raised about debt servicing after the announcement of the new IMF program. Ariba Shahid brings you the woes of banking, CEO salaries, and more in this week’s social media roundup.

The stock market is ruthless. But hey, follow the money. Rs222,422,000 is the yearly compensation the CEO of one of the largest banks received in 2020. The fact is, the salary of an individual should be in line with their experience, credentials, and the position they are settling in at. It makes very little sense for minimal salaries to be glamorized.

There’s a lot to be understood about Raast, this thread explains it well.

Jumping through hoops just to get some foreign currency only makes it easier for a grey market to operate. Ridiculous requirements do not put off people from getting what they want, instead it makes it incentivizes one to find other means.

Things are heating up. Legacy banks, logistics services, and brick and mortar businesses need to be on their toes considering the rapid pace at which things are going. As Sameer rightly points out, being overtaken may not be that far. Banks in Pakistan need to realize that people already resent walking into a bank. The link being down makes it all the more worse.

The growth in new accounts is slowing down. The SBP, however, has encouraged banks to carry on with marketing activities in order to encourage people to open up accounts. As for NPC, there is a lot that is happeneing behind the screen.