State Bank of Pakistan prepares for digital banking

Tuesday 22 December 2020 13:09 CET | News

Pakistan’s central bank (State Bank of Pakistan) has announced that it is considering allowing people to open accounts at banks through digital means like internet and mobile banking.

Pakistan has recently allowed overseas Pakistanis to open bank accounts without physically visiting branches and embassies in their host countries. Representatives said housewives lodged complaints of facing difficulties in opening accounts at banks as bankers asked them their source of income or their husband’s source of income.

The digital account opening would address the issue and help with the account opening of housewives and more generally allow lending and credit to reach women, and others as well. However, many women do not know about the scheme despite the information being publicly available.

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Keywords: SBP, State Bank of Pakistan, digital banking, Pakistan, mobile banking, banking
Categories: Banking & Fintech
Countries: Pakistan
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Banking & Fintech

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