SBP to issue five digital banking licenses in 2022 Over All Pakistan
In the last two years, digital banking has become the new normal and more people are now comfortable with having their financial transactions through digital platforms instead of visiting the banks physically. In order to further accelerate digital payments, the State Bank of Pakistan has decided to issue five licenses for setting up digital banks in the country. Digital Banking licenses to new companies will enhance financial inclusion through affordable and cost-effective digital financial services. Last Date to Register for digital banking licenses is March 1 While telling about this, Central Bank said in a statement: “In line with international best practices and assessment of the overall banking situation in Pakistan, SBP has decided to initially issue up to five (5) digital banks’ licenses, which essentially means that SBP is looking to attract players with a strong value proposition, a robust technological infrastructure, sufficient financial strength, technical expertise,...