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State Bank of Pakistan Continues to Boost Digital Financial Services


State Bank of Pakistan Continues to Boost Digital Financial Services
State Bank of Pakistan Continues to Boost Digital Financial Services
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Central bank introduces digital cheque clearing and unified QR code for payments to accelerate digitalization, promote financial inclusion
State Bank of Pakistan Governor Reza Baqir this week announced the introduction of digital cheque clearing and a unified QR code for payments as part of the central bank’s attempts to facilitate the introduction of digital financial products and services.
In a statement issued by the apex bank on Wednesday following Aug. 2’s 5
th Stakeholders meeting on digital financial services it said that the State Bank was “actively exploring” developing ‘Open Banking’ to allow financial institutions to share and leverage information provided by customers to “facilitate consumer choice, promote competition and efficiency in the financial sector, and encourage the introduct ....

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Groups for integration of govt agencies with Raast proposed - Newspaper


In this 2019 file photo, Reza Baqir, Governor of the State Bank of Pakistan (SBP), takes a question from a reporter (not pictured) during a news conference at the head office in Karachi. Reuters/File
KARACHI: State Bank of Pakistan Governor Dr Reza Baqir has suggested formation of working groups to address specific issues related to taxation in digital financial services, integration of government agencies with Raast instant payment system and the availability of seamless internet connectivity across the country.
He said this while chairing the fourth meeting of stakeholders on the digital financial ecosystem on Wednesday.
A statement issued by the central bank said that the goal of these meetings was to accelerate the agenda on promoting digital financial services in Pakistan and support coordination in cross-cutting issues. ....

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