sbp

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 …

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

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 …

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

Pakistan: Why Marketplaces & Other Stored Value Payment Networks need to be treated like Remittances

Why State Bank of Pakistan’s PRI (Pakistan Remittance Initiative) needs to be proactive. Their complacent manner is costing Pakistan Millions of Dollars worth of valuable Foreign Exchange. What is Remittance? The technical definition of the word Remittances varies from market to market. Financial Regulators have their own homegrown definitions for it. Here are a bunch …

Pakistan: Why Marketplaces & Other Stored Value Payment Networks need to be treated like Remittances Read More »

Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry.

For those who don’t know, I.I. Chundrigar Road is the road on which the Central Bank of Pakistan, i.e. State Bank of Pakistan is located. Last week they released their Rules for Payment System Operators & Payment Service Providers, which essentially killed the Payments & Fintech startup industry of Pakistan. Murder on Chundrigar Road is …

Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry. Read More »

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