{"id":82795,"date":"2022-01-04T12:09:55","date_gmt":"2022-01-04T07:09:55","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=82795"},"modified":"2022-01-04T12:10:00","modified_gmt":"2022-01-04T07:10:00","slug":"sbp-branchless-regulatory-framework","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-branchless-regulatory-framework.html","title":{"rendered":"SBP introduces Licensing &amp; Regulatory Framework for branchless banking"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Monday approved Pakistan\u2019s first branchless banking Licensing &amp; Regulatory Framework, news sources reported. Under the newly formulated framework, initially, five licenses will be awarded to banks with strong technology acquisition and applications will be accepted till March 31, 2022.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\">Digi<\/a><a href=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\" target=\"_blank\" rel=\"noreferrer noopener\">t<\/a><a href=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\">al banking plan to be approved within a month: SBP deputy governor<\/a><\/p>\n\n\n\n<p>As per the SBP circular, the framework will allow banks to develop technologies and regulations for wholly digital banks that will provide all the banking services; from account opening to deposit and lending, through digital means and the customers will not need to visit any branch physically. Under the licensing two types of digital banks will be opened that includes the Digital Retail Bank (DRB) for <a href=\"https:\/\/www.zameen.com\/news\/sbp-provide-low-cost-financial-services-digital-banking.html\" data-type=\"post\" data-id=\"51517\" target=\"_blank\" rel=\"noreferrer noopener\">retail customers and Digital Full Bank (DFB)<\/a> for retail and business customers.\u00a0 The licenses will also be offered in the<a href=\"https:\/\/www.zameen.com\/news\/sbp-digital-islamic-banking-system.html\" data-type=\"post\" data-id=\"81369\" target=\"_blank\" rel=\"noreferrer noopener\"> Islamic and conventional banking<\/a> sectors as well with entities able to obtain both. The initial capital cap for the banks to obtain licenses will be PKR 1.5 billion, which will gradually increase to PKR 4 billion over the coming period.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-pass-bill-fiscal-autonomy-to-sbp.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt passes bill granting fiscal autonomy to SBP<\/a><\/p>\n\n\n\n<p>It was reported that the framework includes guidance regarding licensing requirements, potential sponsors and permissible use-cases during different phases. It also sets an expectation from applicants to have sound digital governance, robust, secure and resilient technology infrastructure, effective data management strategy and practices. Similarly, for regulatory purposes, the digital banks will still have to maintain staff and physical presence in the country. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Monday approved Pakistan\u2019s first branchless banking Licensing &amp; Regulatory Framework, news sources reported. Under the newly formulated framework, initially, five licenses will be awarded to banks with strong technology acquisition and applications will be accepted till March 31, 2022.\u00a0\u00a0\u00a0 Read: Digital banking plan to be approved within a month: SBP deputy governor As per the SBP circular, the framework will allow banks to develop technologies and regulations for wholly digital banks that will provide all the banking services; from account opening to deposit and lending, through digital means and the customers will not need to visit any branch physically. Under the licensing two types of digital banks will be opened that includes the Digital Retail Bank (DRB) for retail customers and Digital Full Bank (DFB) for retail and business customers.\u00a0 The licenses will also be offered in the Islamic and conventional banking sectors as well with entities able to obtain both. The initial capital cap for the banks to obtain licenses will be PKR 1.5 billion, which will gradually increase to PKR 4 billion over the coming period.\u00a0\u00a0\u00a0 Read: Govt passes bill granting fiscal autonomy to SBP It was reported that the&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[6066,50363,50362,50361],"persona":[],"class_list":{"0":"post-82795","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-sbp","9":"tag-sbp-digital-banking-system","10":"tag-sbp-introduces-licensing-amp-regulatory-framework-for-branchless-banking","11":"tag-sbp-to-provide-low-cost-financial-services-with-digital-banking","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>SBP introduces branchless banking Regulatory Framework- Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Monday approved Pakistan\u2019s first branchless banking Licensing &amp; Regulatory Framework, news sources\" \/>\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\/sbp-branchless-regulatory-framework.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP introduces branchless banking Regulatory Framework- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Monday approved Pakistan\u2019s first branchless banking Licensing &amp; Regulatory Framework, news sources\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-branchless-regulatory-framework.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-04T07:09:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-04T07:10:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nauman Ahmad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nauman Ahmad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBP introduces branchless banking Regulatory Framework- Zameen News","description":"Karachi: The State Bank of Pakistan (SBP) on Monday approved Pakistan\u2019s first branchless banking Licensing &amp; 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