Karachi: State Bank of Pakistan (SBP) Governor Reza Baqir on Tuesday announced the government’s plans to offer digital on-boarding payment solutions for overseas Pakistanis, according to news sources.
He said that Pakistan plans to involve expatriates to boost foreign exchange reserves by enabling them to open digital accounts in the country from next week. He deemed this development as an opportunity for the overseas Pakistanis to invest in ‘one of Asia’s best-performing stock markets, buy government debt and conduct basic banking’.
Baqir further revealed that eight domestic banks have agreed to facilitate move of opening accounts and deposits in US dollars or Pakistani rupees. He also said that the government will launch a debt certificate for overseas investors to take advantage of the digital accounts. He added that the SBP is comfortable with the inflation outlook and is resolved to focus on economic growth and checking unemployment.
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