FINANCE

SBP advised all banks to develop digital portals for end-to-end digitalisation

The State Bank of Pakistan (SBP) advised all banks to develop digital portals for end-to-end digitalisation. These portals will be used for the purpose of case submission and processing to further facilitate the business community in Pakistan.

It will help to promote ease of doing business and increase in operational performance of banks. It will assist to make processing of foreign exchange-related cases economically and environmentally safe. The State bank of Pakistan (SBP) in the first phase of its end-to-end digitalisation campaign established an online platform – named, “Regulatory Approval System (RAS)”.

This system, “Regulatory Approval System (RAS)” (RAS) will assist to banks in online submission of foreign exchange-related cases. To the SBP Exchange Policy Department and Foreign Exchange Operations Department of the SBP Banking Services Corporation (SBP BSC).

State Bank of Pakistan (SBP) in the next plan, briefed banks to establish online / digital portals. To make easy their customers in online filing of cases to banks. It will also further help to end paper-based case filings.

Digital Banking | State Bank of Pakistan | SBP | Foreign Exchange | Foreign Remittances |

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