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SBP issues criteria for Raast participants

Summary by Dawn

KARACHI: To reduce cash transactions through digitalisation, the State Bank of Pakistan (SBP) issued a criterion on Saturday to enhance the technical capabilities of participant banks involved in the instant payment system — Raast. While there has been a significant increase in digital payments in Pakistan over the past five years, cash transactions still constitute a considerable portion of the overall payment system. Trying to take the payment…

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Dawn

SBP issues criteria for Raast participants

9 hours ago·Pakistan

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Business Recorder

SBP issues Raast participation criteria

KARACHI: In order to facilitate the applicants desirous of becoming Raast participants, the State Bank of Pakistan...

1 day ago

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mettisglobal.news

SBP awards first digital banking license to MBPL

February 21, 2025 (MLN): The Governor of the State Bank of Pakistan (SBP) awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL) in a special meeting held with the Board and senior management of MBPL. This was yet another landmark, as earlier this year, a microfinance bank was granted the first Digital Retail Bank (DRB) license for commercial operations. State Bank’s Deputy Governor and senior executive…

2 days ago

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Daily Pakistan Observer -

SBP awards digital retail bank license to Mashreq Bank - Pakistan Observer

KARACHI – State Bank of Pakistan (SBP) has awarded the first restricted license for pilot operations as digital retail bank to Mashreq Bank Pakistan Limited (MBPL). The decision was taken at a meeting of SBP Governor with the board and senior management of MBPL. Earlier this year, a microfinance bank was granted the first Digital Retail Bank (DRB) license for commercial operations. MBPL is a wholly owned subsidiary of Mashreq Bank PSC (UAE), whi…

2 days ago

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