Karachi, Pakistan – November 01, 2024 – Risk Associates hosted an exclusive Executive Dinner at its Karachi office courtyard, bringing together leaders from Pakistan’s banking industry. The event, organised by Dr Aftab Rizvi, CEO of Risk Associates, saw the participation of CISOs, CIOs, and key financial stakeholders from major banks, facilitating discussions on the future of compliance and information security.
Dr Rizvi, with over 25 years of experience in the field of cybersecurity, led an insightful session titled “Forward-Focused Compliance and the Future of Global Cybersecurity.”
During his address, Dr Aftab praised the Pakistani banking sector’s dynamism, noting, “The Pakistani banking industry is mature in its functionality and offerings when compared to other countries. However, we also face unique challenges that require collective solutions.“
He further spoke about the strides made in collaboration with Bangladeshi banks, noting that while their challenges differ, they too are moving towards greater industry maturity.
He highlighted the pressing cybersecurity challenges faced by the financial industry today, including ransomware attacks, resource limitations, and the need to enhance maturity levels. He emphasised the importance of a collaborative approach, stating, “These challenges affect us all, and it is only through working together that we can overcome them.“
Reflecting on his personal journey, Dr Aftab shared how his career began in 1995 in Australia and described the various challenges he has navigated in cybersecurity and compliance across the EMEA region. He also discussed the increasing complexities of secure transactions in e-commerce, where compliance practices continue to evolve and shape industry standards.
Over the years, he witnessed the transformative impact of technological advancements, including the rise of artificial intelligence (AI) and other emerging technologies.
“The future of cybersecurity and compliance is intrinsically tied to the rapid developments in AI and automation, He remarked. He acknowledged the incredible potential of AI to enhance security protocols, streamline compliance processes, and detect threats in real time, but also warned of the new challenges it presents. With AI’s growing presence, we are now facing a dual-edged sword—on one hand, AI is revolutionising the way we secure systems, yet on the other, it is being weaponised by cybercriminals, making our task more complex.”
C.E.O of Risk Associates
During his address, He also announced a significant milestone:
Risk Associates’ 20-year presence in Pakistan, as well as his own 25-year contribution to the industry.
He further emphasised that Risk Associates’ journey in Pakistan has never been just a business venture—it has been a mission. He recounted key moments in the company’s history and mentioned his working relations with prominent figures such as Awais Leghari, Federal Minister of Power, and Dr. Atta-ur-Rahman, former Federal Minister for Science & Technology. During the formative years of Pakistan’s cybersecurity landscape, Dr Aftab worked closely with these leaders when the scope of cybersecurity was still in its infancy.
Our aim was to help shape the future of cybersecurity in Pakistan, to give back to the country, elevate our people, and empower them to move forward – Dr. Rizvi remarked.
On a personal note, Dr. Aftab expressed his long-standing passion for contributing to Pakistan’s education sector, specifically his desire to establish a university focused on cybersecurity. “I envision a platform where we can identify and resolve industry-specific challenges—a homegrown initiative that reduces dependence on external resources.”
Dr. Aftab also discussed his plans for extensive industry-wide training programs, noting, “Conducting Training is not the issue; we have global access to resources. But I want to facilitate, to contribute back to the industry, and help drive forward solutions that benefit both Pakistan and the wider region.”
He urged the industry to contribute in solving these issues and outlined his plans for extensive sector-wide training programmes. “Conducting trainings is not the challenge; we have global access to resources. What I wish to do is facilitate and contribute back to the industry, driving forward solutions that benefit both Pakistan and the wider region.”
The event concluded with a round of appreciation from the participants, who commended Dr Aftab’s vision and leadership in addressing the pressing challenges of the industry. They expressed their eagerness to support his initiatives, “It’s reassuring to see Dr Rizvi’s deep commitment to the industry, and we are ready to contribute and work together towards these shared goals.”
The event was attended by a notable group of industry leaders, including CISOs and CIOs from leading Pakistani banks and financial institutions, who all left with a renewed sense of purpose and optimism for the future of compliance and cybersecurity.
The evening saw key leaders of Risk Associates, including Kashif Hassan (Managing Director), Aziz A. Rahim (Chief Operating Officer), Waqas Haseeb (Executive Director), Mobin Khan (Executive Director, ERS), and Junaid Rizvi (Senior Manager), as the organisation proudly hosts industry peers for this exclusive gathering. The event also hosted distinguished guests from Pakistan’s major financial institutions, including HBL, Bank Alfalah, and UBL, all of whom left with a renewed sense of purpose and vision.
Among the distinguished guests were leaders from Pakistan’ major financial institutions, such as Syed Adnan Ahmad of the State Bank of Pakistan, Syed Athar Ahmed, Haider Wahab – CEO of Hysabkytab, Imran Ahmad – CTO and Zeeshan Siddiqui – CISO of Bank Al Falah Ltd, Fahd Azam – CISO and Moammar Ghani – Head of Risk from Meezan Bank Ltd, M. Tauseef Aslam – CISO from UBL, Navaid Naqvi from Habib Metropolitan Bank, Iftekhar Imtiaz Ahmed Khan – CISO from JS Bank, Ubaid Jafri from Habib Bank Limited, Qazi Misbah Uddin from Hugo Bank, and Sufyan Ali Sheikh from PSW. Other notable executives and associates were also present, contributing to the evening’s productive discussions.
