Tag: SBP

Pakistan Receives $3.63 Billion in Remittances During July 2026

Pakistan received $3.63 billion in workers’ remittances during July 2026, with inflows rising 4.5% month-on-month and 13% year-on-year.

State Bank of Pakistan Deputy Governor Calls For Technology-Led Financial Inclusion

SBP Deputy Governor Saleem Ullah highlights technology and digital financial services as key tools for expanding financial inclusion across Pakistan.

PVARA Advances Licensing Regulations for Virtual Asset Service Providers

PVARA reviews progress on its regulatory framework and advances HR and licensing regulations for virtual asset service providers in Pakistan.

HugoBank Receives SBP Approval to Begin Pilot Digital Banking Operations

HugoBank has received SBP approval to begin pilot operations, allowing it to test digital banking products with a limited customer base.

SBP Caps Digital Payment Charges at Petrol Pumps to Boost Raast Adoption

SBP has capped card payment charges at fuel stations and directed banks to expand Raast QR acceptance until January 31, 2027.

PayPak Cards May Become Mandatory for Government Salaries and Subsidies

1LINK has proposed mandatory PayPak cards for government salaries, subsidies and public payments as Pakistan expands domestic digital payment infrastructure.

NIBAF Pakistan Announces Digital Lending Risk Compliance Training Workshop

NIBAF Pakistan will hold a one-day workshop on digital lending risk, compliance, SBP and SECP regulations on August 19 in Lahore.

PayPak to Play Central Role in Pakistan Digital Payments Future

PayPak is gaining importance in Pakistan digital payments as SBP promotes domestic payment infrastructure, financial inclusion and a cash-lite economy.

State Bank of Pakistan and IBA CEIF Convene Shariah Advisors Forum 2026 to Advance Maqasid Financial Intermediation

State Bank of Pakistan partners with IBA CEIF to host the Shariah Advisors Forum 2026 in Karachi, advancing Shariah governance and Maqasid-based financial intermediation.

Federal Government Establishes GPRTU to Integrate Public Payments With Raast

The Finance Division launches the Government Payments and Receipts Transformation Unit to integrate federal institutions with the Raast instant payment system.

1LINK Onboards barq PK as Affiliate Member with Bank of Punjab

Electronic Money Institution barq PK partners with 1LINK and Bank of Punjab to offer 1IBFT, PayPak cards, and 1BILL payment services across Pakistan.

Virtual Remittance Gateway and Bank Alfalah Partner to Launch Interoperable Agent Banking Across Pakistan

Virtual Remittance Gateway and Bank Alfalah sign a landmark agreement enabling cross-institutional cash services to accelerate financial inclusion.