Month: April 2018

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Why the Knights Templar were Really Good at Banking

The history of modern banking is quite rich and dates way back in time. Several entities and civilizations have been credited for their contributions towards the development of modern banking systems and the variety of services provided by banks today. The Knights Templar played a significant role in the introduction and diversification of banking services …

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Central Bank of Pakistan puts prohibition on Bitcoin & Virtual Currencies.

The central bank of Pakistan, i.e. State Bank of Pakistan, ended months of neutral stance by formally issuing a notice on Bitcoin &/or Virtual Currencies. In a Banking Policy & Regulations Department (BPRD) Circular # 3 of 2018, State Bank of Pakistan has officially put a Prohibition of Dealing in Virtual Currencies/Tokens. It also confirms …

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Own your own IBAN?

The IBAN is slowly becoming the de facto standard of identifying a beneficiary account. Barring the US, many countries are now jumping on-board the IBAN bandwagon. At the time of writing this article, 82 countries are using IBAN. However, the one thing that I personally don’t like about IBANs is that they are bank specific. …

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