Banking & Finance

Zafar Masud on Banking, Rates, and Pakistan’s Financial Future A miraculous survivor of the 2020 PIA plane crash, Masud joins host Faizan to reflect on the deep motivations behind his book Seat 1C, while offering unflinching insights into Pakistan’s publishing ecosystem and societal mindset.Masud explains that his near-death experience felt like a “divine inspiration”,a story he was given, and one he felt morally compelled to share with humanity. Yet this conviction met a stark reality: Pakistan, he says, is “no longer a book-reading nation.” Citing well-known publisher Ameena Saiyid, Masud highlights a sobering statistic,a bestseller in Pakistan might sell just 1,000 copies. This low readership has cascading effects on the publishing industry, making it a difficult terrain even for extraordinary narratives.The process of writing and publishing Seat 1C took over four years. The Pakistan Factor Masud recounts the many roadblocks along the way, including a disheartening lack of support from established Pakistani authors when he reached out for guidance or connections to international agents. This experience led him to question whether Pakistanis are “chotay dil ke” (small-hearted), particularly when it comes to sharing space and opportunities. Eventually, it was Ameena Saiyid who connected him with an international agent. Building the Brand Still, it took another year to find a publisher. Western markets, already saturated with survival stories, passed on the manuscript until an Indian publisher recognized its unique appeal for the South Asian audience.Masud also lays bare the financial realities of writing in Pakistan. Authors typically receive only 10–20% royalty on the retail price, while retailers often demand margins of up to 50%. Where Things Went Wrong In many cases, publishers require authors to pre-purchase a substantial number of copies to fund printing costs,an investment Masud made himself. For him, and many others, writing is not financially sustainable; it is a passion project, a moral obligation, or a labor of love.Beyond the publishing world, Masud offers broader reflections on Pakistan’s societal trajectory. He believes the country’s stagnation stems not only from economic hurdles but from a deeper mindset crisis. What Comes Next He calls for a “Charter of Society,” one that prioritizes learning, intellectual curiosity, and mutual support. He also laments the lack of a paid speaking culture, arguing that society undervalues lived experiences and the act of learning from one another. Masud stresses the importance of sincerity with oneself as a foundation for both personal growth and national progress, warning against a fixation on the rituals of religion at the expense of its essential humanistic values.Faizan, the host, shares a personal story about mentorship and paying it forward, reinforcing the episode’s central theme of community and collective upliftment. Masud concludes that true freedom lies not in whether one is self-employed or working a job, but in one’s mindset, values, and clarity of purpose. His story is ultimately a proof to resilience, integrity, and the courage to speak one’s truth,even when the system seems indifferent. With Seat 1C, Masud hopes to spark deeper conversations around empathy, learning, and societal transformation.For a powerful narrative on survival, authorship, and the soul of a society, listen to the full DigiTales episode. Frequently Asked Questions Who is Zafar Masud? Zafar Masud is a prominent figure in banking featured on the DigiTales podcast with Faizan Sayed, where they discussed their career, insights, and vision for Pakistan’s future. What did Zafar Masud say about Pakistan's creative industry? Zafar Masud discussed the state of Pakistan’s creative sector on DigiTales, offering a firsthand account of the challenges artists face and the opportunities that remain for those willing to push boundaries. What is DigiTales podcast? DigiTales is a podcast hosted by Faizan Sayed, CEO of East River Digital, featuring weekly conversations with Pakistan’s most influential leaders across business, culture, policy, and technology. The show covers real stories and hard-won insights from CEOs, artists, politicians, and entrepreneurs. Guest: ZAFAR MASUD Zafar Masud is a Pakistani banker and author who survived the 2020 PIA plane crash in Karachi. He wrote 'Seat 1C' about his experience, and uses his public platform to advocate for a national culture of learning, intellectual curiosity, and mutual support across Pakistan's business community. Host: Faizan Sayed Faizan Sayed is the founder of DigiTales Podcast and CEO of East River Digital, a performance-led marketing agency with offices in Pakistan, KSA, and the US. Each week, he interviews Pakistan's most influential leaders across business, culture, and policy. 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