Pakistan

Revamping the E-commerce Eco System in Pakistan: A startup perspective

Hi. I have penned down my thoughts on the digital economy eco system and its potential that we are missing out on as precisely as possible. I will now request both big players doing e-com and small companies to comment any similar or additional challenges you face with regards to these issues. I really hope …

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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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Pakistan to sign 98-state convention for tax information exchange – Offshore News Flash

Pakistan is now going to be signing a tax-information exchange treaty, which would allow the Government of Pakistan to know about all the bank accounts (of Pakistani Citizens) that are overseas. Just like FATCA (Foreign Account Tax Compliance Act) that the US has. Source: Pakistan to sign 98-state convention for tax information exchange – Offshore …

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Pakistan on 8th position with $20.1 billion remittances | Pakistan Today

This is an interesting article that covers the growing remittances of Pakistan well, but fails to mention a couple of things what is contributing this growth. Let’s face it, if you think Pakistan’s human capital export to the Middle East is skyrocketing, you’re sadly mistaken. It is not. Black-to-White. Let’s get the elephant out of the …

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Why traditional card scheme acquiring will not work in Pakistan

In Pakistan there are four payment gateways: HBL’s CyberSource (VISA) MCB MIGS (MasterCard) UBL’s payment gateway that gets routed via a processor in Dubai Bank Alfalah MIGS (MasterCard) There was an effort by NIB Bank to acquire MIGS processing services, but VISA would not give acquiring rights to NIB. Infact VISA has made it clear, …

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