In order to facilitate the collection of Government receipts/duties/taxes, it has been decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and authorized branches of the National Bank of Pakistan (NBP) will observe extended banking hours till 8:00 P.M. and 10:00 P.M. on 30th and 31st May 2022 respectively. Accordingly, NIFT has been […]

SBP issued “Licensing and Regulatory Framework for Digital Banks” on January 03, 2022. To create awareness of this important development in regulatory ambit, SBP organized an online event – “Digital Banks – A New Era in Banking”. The objective of the webinar was primarily to create awareness about the next generation of banks i.e. digital […]

In order to promote digital payments, SBP has been taking steps to make them more secure, introducing new features and promoting their use.  In consultation with the industry and other stakeholders, SBP has taken more steps to make digital transactions and card payments more secure and easier.  Now the consumers will only have Europay MasterCard […]

Codebase Technologies has introduced a brand-new digital fintech offering – Digibanc™ Digital Roshan – to empower conventional and Islamic banks in Pakistan to manage seamless, consistent, and engaging customer journeys across multiple customer touch-points and drive their digital transformations. The comprehensive digital solution aims to help banks to support overseas Pakistani customers to open their […]

Dr. Reza Baqir launched the SBP FX Regulatory Approval System (RAS) for end-to-end digitalization of Foreign Exchange (FX) related case submission process today in a ceremony held in Karachi. At the invitation of Governor Baqir, Dr. Ishrat Husain, Advisor to the Prime Minister on Institutional Reforms and Austerity and the Governor State Bank of Pakistan […]

On a mission to accomplish the business needs of its customers, Mobilink Microfinance Bank Limited (MMBL) has partnered with Paysys Labs to introduce its mobile and internet banking platform. The mobile banking application will be available both on iOS and Android devices and will bridge all MMBL customers to the digital banking eco-system. As a […]

Mohsin Ahmed, CEO at Pakistan Microfinance Network (PMN), shares strategies to overcome low financial inclusion in Pakistan and how they are supporting members to promote innovation and entrepreneurship. Ahmed while discussing the affects to recent pandemic on Pakistani economy says, “The bigger challenge on the macro front is to interact with the global economy as […]

The Board of Directors of BankIslami Pakistan Limited (‘The Bank’ or ‘BankIslami’) in their meeting held on August 28, 2020, in Karachi approved the Bank’s interim financial results for the first half ear ended June 30, 2020. BankIslami generated operating profits (before provisions and tax) to the tune of Rs. 3,382 Mn, registered a growth […]

Meezan Bank, Pakistan’s first and largest Islamic bank, recently announced a groundbreaking partnership with Finja, the country’s first dual-regulated fintech (regulated by SBP and SECP), to support MSMEs (Micro, Small, and Medium Enterprises) through Shariah-compliant digital financing. Local small businesses play a major role in the country’s economy but unfortunately, this sector has had limited […]

To promote housing and construction of buildings activities in the country, as envisaged by the Government of Pakistan (GOP), State Bank of Pakistan (SBP) has decided to set a mandatory target for banks to extend mortgage loans and financing for developers and builders. Banks will be required to increase their housing and construction of building […]