The State Bank of Pakistan, in a meeting of the Monetary Policy Committee (MPC) on Friday, reduced the policy rate by 100 basis points to 8 percent.’ This decision reflected the MPC’s view that the inflation outlook has improved further in light of the recent cut in domestic fuel prices. As a result, inflation could […]

Webdnaworks (Pvt) Ltd (WPL) is the State Bank of Pakistan’s (SBP) licensed and regulated Payment System Operator (PSO) and Payment Service Provider (PSP). WPL has been granted this full commercial license for the installation of White Label ATMs across Pakistan. WPL plans to roll out 600 ATMs over the next two years, and are willing to […]

The State Bank of Pakistan (SBP) has opened up its subsidized Temporary Economic Relief Facility (TERF)  for Balancing, Modernization and Replacement (BMR), and expansion of existing projects. This measure has been taken to provide further stimulus to the economy in the context of COVID‐19’s impact on the economy, to support investment in the country for […]

  SadaPay, a fintech challenger launching in Pakistan has announced a new exclusive partnership with Mastercard. Pakistan is the 5th most populous country in the world, where 87% of 220 million people remain unbanked, but about 1 million smartphones are coming online every month. SadaPay will enable customers to conduct seamless, faster and safer domestic and […]

“When COVID-19 took hold, necessity dictated that all organizations move to digital. Hence, to ensure safety, all communication is now done online with new ways to collaborate and innovate”, said Najeeb Agrawalla, Chief Executive Officer at 1LINK in an exclusive Q&A session with Daily NewsPK while sharing his insights about the current scenario of the economy and […]

SadaPay has announced that it has been granted the in-principle approval by the State Bank of Pakistan (SBP) for an Electronic Money Institution (EMI) license. This approval allows SadaPay to ready its operations for the pilot phase, during which the digital wallet will be available on a limited scale, under the supervision of the regulator.  […]

On April 10, 2020 the State Bank of Pakistan announced an incentive scheme— entitled Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns—that enables the provision of concessional credit for payroll finance to businesses that commit to not lay off workers for the next three months. Today the […]

  The State Bank of Pakistan today released its Second Quarterly Report for FY20 on the State of Pakistan’s Economy. According to the report, the stabilization efforts and regulatory measures yielded notable improvements during the first half of FY20. The current account deficit contracted to a six-year low, foreign exchange reserves increased, the primary budget […]

The State Bank of Pakistan, as part of its ease of doing measures, has launched a Regulatory Approval System (RAS) for submission of cases related to the foreign exchange policy and operations dealt by its different departments. The State Bank of Pakistan (SBP) RAS, has become operational from March 24th, 2020, provides an online platform […]

  Dato’ Arif Siddiqui, Chief Digital Officer at Faysal bank Limited shares the journey of digital transformation with Daily NewsPK and discusses the future initiatives that will be taken under his leadership.