SBP Adopts Measures to Promote Digital Payments

Source: Business Recorder

In order to curtail the risk of spread of coronavirus (COVID-19) and limit the physical interaction of citizens at bank branch level, the State Bank of Pakistan (SBP) has waived all bank charges for online fund transfer services and the transactions charges on Real Time Gross Settlement (RTGS) System for customers.

In the wake of the recent outbreak of COVID19, the SBP is undertaking a number of measures to contribute towards meeting the challenges faced by society to remain safe from this pandemic and its potential impact. Given the pivotal role of financial sector in providing services to the general public and particularly the businesses, SBP after consultation with stakeholders has instructed banks to take specific measures to provide their services seamlessly taking due care of reducing the risk exposure amid coronavirus.

About this News Item