State Bank of Pakistan Continues to Boost Digital Financial Services
State Bank of Pakistan Continues to Boost Digital Financial Services
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Central bank introduces digital cheque clearing and unified QR code for payments to accelerate digitalization, promote financial inclusion
State Bank of Pakistan Governor Reza Baqir this week announced the introduction of digital cheque clearing and a unified QR code for payments as part of the central bank’s attempts to facilitate the introduction of digital financial products and services.
In a statement issued by the apex bank on Wednesday following Aug. 2’s 5
th Stakeholders meeting on digital financial services it said that the State Bank was “actively exploring” developing ‘Open Banking’ to allow financial institutions to share and leverage information provided by customers to “facilitate consumer choice, promote competition and efficiency in the financial sector, and encourage the introduction of innovative pro
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