Karachi February 16 2022: On SBP’s efforts to promote digitalization of payments and economy, Governor SBP highlighted that in January SBP issued digital bank licensing framework that provides flexible requirements to setup digital banks in Pakistan.
For now, only five licenses for Digital Banks will be issued and interested parties can apply for a license until March 31, 2022.
It may be noted that during fiscal year 2021, 1.2 billion transactions of USD500 billion value were processed through retail e-Banking channels. These transactions showed year-on-year growth of 30.6% in volume and 31.1% in value.
