Banking & Finance

SBP Clarifies the Draft Amendment Act on Central Bank’s Autonomy

The State Bank of Pakistan (SBP) finally held a virtual press briefing of SBP Governor and Officials on the draft SBP Amendment Act. Over the last few weeks, the potential amendments have caused a lot of controversy among the economic and financial circles in the country. The primarily contentious issues revolve around the level of …

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SBP Digitizes Forex Approval Process with New System

The State Bank of Pakistan (SBP) has launched an innovative program for end-to-end digitization, titled “End-to-End Digitalization of FX Cases.” The move is made to ensure expeditious handling of foreign exchange proceeds. The SBP also organized an awareness session on the program on Wednesday. Addressing the session, SBP Gujranwala Chief Manager, Muhammad Waheed Akhtar, said, “We …

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SBP Removes Charges and Levy for Internet and Mobile Banking Services Permanently

The State Bank of Pakistan (SBP) has waived off the fees on various internet and mobile banking services for consumers. In order to promote digitization in the banking sector and encourage the use of digital channels, the State Bank of Pakistan has directed all banks to withdraw annual charges and levy on activation, subscription and …

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SadaPay Partners With IDEMIA To Revolutionize And Expand Banking Services In Pakistan

With IDEMIA’s Global Fintech Accelerator Card Program, the Pakistan-based fintech firm can now effectively scale-up its operations and offer a superior payment experience, powered by state of the art technology. As the world goes digital, payment cards are arguably the last physical touch-point between the bank and its customers. SadaPay’s approach to financial services is …

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New Ordinance on Overseas Pakistanis, Own Money, Electric Vehicles and Super Tax Explained

In order to promote ease of doing business and digitalization, the Securities and Exchange Commission of Pakistan (SECP) has launched a portal for expeditious bank account opening of newly registered companies. The online portal provides banks real-time access to statutory records of companies, thus enabling them to open corporate accounts without seeking physically certified copies …

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