On 1st November, 2019 Governor State Bank of Pakistan Dr. Reza Baqir launched the National Payment Systems Strategy.
Financial Market Infrastructures (FMIs) that facilitate the clearing, settlement, and recording of monetary and other financial transactions can strengthen the markets they serve, play a critical role in fostering financial stability and hence contribute to a strong economy. Central banks typically seek efficiency and safety in the National Payment Systems (NPS), including retail payment systems, services and payment instruments. In this context, SBP through World Bank’s Financial Inclusion Support Framework (FISF) program, prepared a strategy for the Pakistan’s NPS which would support both the National Financial Inclusions Strategy (NFIS) and the financial stability of the country.
The objectives of this strategy are to make recommendations to design a NPS complying with international standards and best practices, and tailored for the specific circumstances and needs for a safe, efficient and inclusive NPS in the country. The dual objective of enhancing financial stability to contribute to economic growth and of supporting financial inclusion are the overarching goals of this strategy.
For NPSS strategy click here
Payment System Landscape in Pakistan
SBP Launches National Payment Systems Strategy during Visit of World Bank's President
(01-11-2019) - Urdu
Speech by Governor SBP, Dr. Reza Baqir
Speech by President World Bank, David R. Malpass
National Payment Systems Strategy - Complete Program