Karachi: State Bank of Pakistan (SBP)’s Banking Services (BSC) Managing Director (MD) Muhammad Ashraf Khan recently announced that banks across the country had been notified to use the state bank’s online portal for the electronic submissions of all foreign exchange-related cases, a news source reported.
The managing director revealed this information while briefing the stakeholders concerned about the updates introduced in SBP’s foreign exchange operations. He added that the SBP would formally launch the aforementioned online portal this month.
During the briefing, the MD also highlighted the central bank’s initiatives for digitalisation of its processes and conversion to a paperless environment — aimed towards benefitting the businesses operating in Pakistan.
Khan stated that the SBP was continuing its efforts to support ease of doing business. He added that clients would receive an email containing system-generated unique case numbers to keep them updated about cases submitted to the SBP. He said that clients would be able to use this case number to access the updated position of their case through the bank’s official website.
Additionally, the SBP held awareness sessions for the business community at its offices in Lahore, Sialkot, Gujranwala, and Faisalabad. These sessions included presentations on the key developments made by the SBP for ease of doing business, including the workings of the online portal. The central bank will hold similar sessions in other cities across the country over the coming weeks.
