Lahore: The State Bank of Pakistan (SBP) has introduced a Service Desk System, a dedicated complaint management portal designed to address concerns from Regulated Entities (REs) regarding SBP-hosted platforms, including the Regulatory Approval System (RAS). This news has been derived from a March 10 article.
According to the details, to access these portals via VPN, financial institutions will need to procure Multifactor Authentication (MFA) licenses. REs are advised to acquire the necessary MFA accounts to ensure a smooth transition to VPN-based access for both RAS and the Service Desk, in line with the given timeline.
Additionally, SBP has fully digitized the process of receiving requests and proposals from Regulated Entities and now communicates regulatory decisions through RAS, streamlining interactions with financial institutions.
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