SBP To Launch Digital Financial And Micro Payment Services

Aizbah KhanWeb Editor

06th Nov, 2020. 08:33 pm
SBP To Launch Digital Financial And Micro Payment Services

Governor State Bank of Pakistan (SBP) Raza Baqir has announced to bring digital financial and micro payment services.

According to details, SBP Governor Dr Raza Baqir along with his Deputy Sima Kamil visited the Lahore Chamber of Commerce and met the businessmen in which Raza Baqir has emphasized on promoting contacts with the Lahore Chamber.

Raza Baqir assured cooperation in resolving issues related to SBP and removing obstacles from banks and said that digital financial and micro payment services are being introduced.

The Governor SBP said that till last year the policy rate was 13% which has been reduced to 7% while no other country in the world has reduced the interest rate so much and the exchange rate has gone up from 156 to 159.

Earlier, the State Bank of Pakistan has announced to start issuing the Islamic Naya Pakistan Certificates (INPCs) for residents and expatriates who have their properties abroad.

Sharing the notification on Twitter, SBP stated that,

” INPCs are in full conformity with Shariah Principles and have been certified by reputed Shariah Scholars.”

It further stated,

“Very attractive expected rates of 5.5-7% on USD & 9.5-11% on PKR #INPCs. INPCs are available only through Roshan Digital Accounts which can be opened online by Overseas Pakistanis & by visiting a branch of one of the 8 RDA banks by Resident Pakistanis”

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