Digital Enablement of Exchange Companies
Building an innovative and inclusive digital financial services ecosystem is one of the key objectives of State Bank of Pakistan (SBP) under its Strategic Plan 2023 – 2028. To achieve…
LEGAL STATUS OF VIRTUAL ASSETS IN PAKISTAN
With reference to the news items regarding the 14th meeting of the National Assembly’s Standing Committee on Finance and Revenue, it is clarified that State Bank of Pakistan (SBP), in…
SBP Issues License to M/s. E-Processing Systems Private Limited to Commence Commercial Operations
The SBP has given License to M/s. E-Processing Systems Private Limited (EPSPL) to commence commercial operations as an Electronic Money Institution (EMI). Under the license, the EMI shall offer e-money…
Pakistan’s Fintech Landscape: CCP Approves 100% acquisition of Sadapay by PPR Holding A.S.
ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 100% shareholding of M/s. SadaPay Technologies Limited by M/s. PPR Holding A.S. under a Share Purchase…
SBP releases its third quarterly review of Payment Systems
State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Report for the third quarter (Jan-Mar) of the fiscal year 2023-24. The report presents a quarterly review of payment…
SBP releases Second Quarterly Payment Systems Review for FY 24
State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for the second quarter of the fiscal year 2023-24. This report showcases significant progress in Pakistan’s payment ecosystem…
Regulatory Instructions in respect of withdrawal of EMI License – M/s CMPECC (Pvt.) Ltd
The State Bank of Pakistan (SBP) on October 23, 2023 has advised M/s CMPECC (Pvt) Ltd, currently in ‘Commercial stage’ under Regulations for Electronic Money Institutions (EMIs), to refund all…
Digital transactions sustained its growth during the fiscal year 2022-23
Annual Payment Systems Review for the fiscal year 2022-23 is released today by the State Bank of Pakistan (SBP). The review presents growth and trends in banking transactions accompanied by…
SBP Awards In-principle Approval to 5 Proposed Digital Retail Banks
In a bid to foster innovation, financial inclusion and availability of affordable digital financial services, State Bank of Pakistan (SBP) has granted In-Principle Approval (IPA) for establishing five digital retails…
SBP issues revised Regulations for Electronic Money Institutions
KARACHI: State Bank of Pakistan has issued revised Regulations for Electronic Money Institutions (EMIs) with the aim to enhance outreach and scope of these innovative fintech-enabled payment companies. The updated…
SBP extends Online Portal to EMIs, PSOs and PSPs
In order to promote digitalization and encourage eco-friendly practices, the State Bank of Pakistan (SBP) has developed online portal called SBP Regulatory Approval System (RAS) to enable regulated entities (i.e.…