In order to promote financial inclusion as well as the use of efficient and secure electronic payment instruments as envisioned in its Strategic Plan, State Bank of Pakistan has decided to issue Regulations for Prepaid Cards with the aim of providing an enabling regulatory framework for prepaid card issuance and providing a level playing field to all the banks.

These Regulations outline a minimum set of operational, administrative and technical standards for issuance of Prepaid Cards by the banks in Pakistan and will be effective immediately. Banks are also advised to ensure that the Prepaid Cards already in circulation are compliant with these regulations by September 2016.

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Encl: Prepaid Card Regulations.