Now resident Pakistanis can easily open bank accounts digitally: SBP

SBP keeps policy rate unchanged at 7% for next two months
Staff Reporter

The central bank has said Thursday the resident Pakistanis will be able to conveniently and remotely open bank accounts via digital channels including websites and mobile applications.

The State Bank of Pakistan said in its statement that since the onslaught of the pandemic, the adoption of electronic banking channels has grown rapidly and “the demands from bank and customers for digital financial transactions have increased manifold.”

“Based on the success of the Roshan Digital Account framework, SBP has now devised a comprehensive ‘Customers’ Digital Onboarding Framework,” said the central bank.

According to the bank, this framework provides a convenient way for all segments of society for opening bank accounts.

It specifically enables freelancers, self-employed or unemployed women, and recipients of remittances from abroad to open a bank account digitally with minimum document requirements, said today the bank press statement.

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