{"id":80794,"date":"2021-10-22T13:03:31","date_gmt":"2021-10-22T08:03:31","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=80794"},"modified":"2021-10-22T14:45:27","modified_gmt":"2021-10-22T09:45:27","slug":"digital-banking-plan-to-be-approved-in-a-month-sbp","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html","title":{"rendered":"Digital banking plan to be approved within a month: SBP deputy governor"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) Deputy Governor Sima Kamil on Thursday (October 21) has announced that a digital banking plan has been prepared and will be approved within a month for proper implementation, according to news sources.\u00a0 <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/non-filers-cannot-deposit-dollars-in-banks-state-bank-of-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Non-filers cannot deposit dollars in banks: State Bank of Pakistan<\/a><\/p>\n\n\n\n<p>The SBP deputy governor, while speaking at the 19th Annual Conference on Future Banking 2021 Summit, disclosed that the digital banking plan has been finalised after intensive consultation. She went on to appreciate the efforts of fintech and other players who were interested in digital banking. She further added that <a href=\"https:\/\/www.zameen.com\/news\/state-bank-introduces-international-payment-system-local-companies-freelancers.html\" target=\"_blank\" rel=\"noreferrer noopener\">digital banking<\/a> will offer a wide range of banking services online. <\/p>\n\n\n\n<p>With Central Bank\u2019s recent digital onboarding, Pakistanis can, now, open bank accounts online without visiting the bank branch. It was reported that the central bank will soon introduce the second phase of its instant payment system \u2013 Raast \u2013 in November. Under this payment system, individuals will be allowed P2P (person-to-person) financial transactions. It was also mentioned that six banks are in the phase of integration. <\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-invest-more-capital-in-real-estate.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP allows Banks to invest more capital in real estate<\/a><\/p>\n\n\n\n<p>Moreover, SBP Deputy Governor Kamil stated that the central bank is working on \u2018Open Banking\u2019. Sharing more details about this initiative, the deputy governor revealed that the working plan is finalised and work on critical things to open Application Programming Interface (APIs) is underway. She went on to say that an internal steering committee on Open Banking is in talks. It was disclosed that assistance from World Bank (WB) is sought. Furthermore, former Additional Director General FIA and Director General Centre of Information Technology (CIT) Ammar Jaffri has approached Federal Investigation Agency (FIA) and National Accountability Bureau (NAB) to form laws for working in digital currencies. A Special Interest Group on Digital Currency was also formed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) Deputy Governor Sima Kamil on Thursday (October 21) has announced that a digital banking plan has been prepared and will be approved within a month for proper implementation, according to news sources.\u00a0 Read: Non-filers cannot deposit dollars in banks: State Bank of Pakistan The SBP deputy governor, while speaking at the 19th Annual Conference on Future Banking 2021 Summit, disclosed that the digital banking plan has been finalised after intensive consultation. She went on to appreciate the efforts of fintech and other players who were interested in digital banking. She further added that digital banking will offer a wide range of banking services online. With Central Bank\u2019s recent digital onboarding, Pakistanis can, now, open bank accounts online without visiting the bank branch. It was reported that the central bank will soon introduce the second phase of its instant payment system \u2013 Raast \u2013 in November. Under this payment system, individuals will be allowed P2P (person-to-person) financial transactions. It was also mentioned that six banks are in the phase of integration. Read: SBP allows Banks to invest more capital in real estate Moreover, SBP Deputy Governor Kamil stated that the central bank is working&hellip;<\/p>\n","protected":false},"author":83,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[49050,21853],"persona":[],"class_list":{"0":"post-80794","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-digital-banking-plan-to-be-approved-within-a-month-sbp-deputy-governor","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15016-id","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Digital banking plan to be approved within a month: SBP - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) Deputy Governor Sima Kamil on Thursday (October 21) has announced that a digital banking plan has been prepared\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Digital banking plan to be approved within a month: SBP - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) Deputy Governor Sima Kamil on Thursday (October 21) has announced that a digital banking plan has been prepared\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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