Financial Inclusion By IoBM’s CTO & Director – CIT, Dr. Imran Batada

The most recent update in the digital banking sector shows that Pakistan is growing digitally at a fast pace. The State Bank of Pakistan (SBP) has issued the licencing and regulatory framework for setting up digital banks. Over time, there has been the growth of digital insurance, digital economy, paperless payments, cryptocurrency, and other digital forms.

This licencing and regulatory framework will play a major role in the growth of the digital economy and help set up digital banks as separate entities in Pakistan. Financial inclusion has always been a major issue in the country, and this framework is likely to lead to affordable digital financial services.

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