Tag: electronic money institutions

State Bank Gains Access To Centralized Bank Transaction Data System To Report Transactions Above Rs100 Million

Regulatory NextWallet Desk -
Income Tax Ordinance amendment lets SBP run a central data hub, requiring banks and EMIs to report transactions above Rs100 million for tax matching.

Banks And Electronic Money Institutions To Upload Large Transactions To Central Hub

Regulatory NextWallet Desk -
FBR mandates banks and electronic money institutions to e-upload data on deposits and withdrawals above Rs100 million to a new Central Data Hub for tax matching.

Mobile Wallets and Digital Bank Accounts Without Biometric Verification to Be Blocked From October 25

Regulatory webdesk -
Starting October 25, 2025, the State Bank of Pakistan will block all digital bank accounts and mobile wallets without biometric verification, as part of its new framework to enhance financial security, transparency, and compliance across the country’s banking ecosystem.