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How to claim or encash a prize bond samaa.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from samaa.tv Daily Mail and Mail on Sunday newspapers.
Govt documents Rs60 billion worth of Rs25,000 bearer bonds Business April 9, 2021 KARACHI: The federal government has documented Rs60 billion worth of bearer bonds valuing Rs25,000 each in three months to comply with one of the conditions of the Financial Action Task Force (FATF). The documentation of bearer bonds was one of the requirements to comply with the FATF conditions, for which the government started with first withdrawing Rs40,000 bearer bonds in June 2019. Pakistan remains on the FATF grey list and the next review of the task force is scheduled for June 2021. The finance ministry on December 9, 2020 announced it would stop issuing Rs25,000 denomination bearer prize bonds and further instructed the bonds could not be cashed or redeemed after May 31, 2021. Since the announcement, the outstanding stock of this bearer bond reduced to Rs41 billion by end of February 2021 as compared with Rs101 billion in December 2020, according to statistics released b ....
In Short The Situation: As we advised in our recent Commentary, federal banking regulators have proposed rules requiring a banking organization to provide its primary federal regulator with prompt notification of any computer-security incident that materially disrupts, degrades, or impairs certain important business operations. This proposal adds another reporting requirement for banking organizations. But it might also impact fintechs. The Result: Under the Bank Service Company Act ( BSCA ), a banking organization is required to disclose to their regulators all of its core service companies, but there is no requirement under the BSCA to inform the service company of the designation. ....
Proposed Computer-Security Incident Rule Would Impose Significant Notification Obligations - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
Banks to implement digital portals Business March 17, 2021 KARACHI: The State Bank of Pakistan (SBP) has advised all banks to implement digital portals for end-to-end digitalisation of case submission and processing, a statement said on Tuesday. This move aims to facilitate the business community in Pakistan, promote ease of doing business, enhance operational efficiency and make processing of foreign exchange (FX) related cases cost effective and environment friendly. In the first leg of its end-to-end digitalisation drive, the SBP launched an online platform - Regulatory Approval System (RAS) to facilitate banks in online submission of FX-related cases to the Exchange Policy Department (EPD) of SBP and the Foreign Exchange Operations Department (FEOD) of the SBP Banking Service Corporation (SBP BSC). The SBP-RAS has been operational since March 24, 2020 whereby banks are submitting their cases online to FEOD and manual case submission has been discontinued. ....