Circulars/Notifications - Payment Systems Policy & Oversight Department (PSP&OD)  
 PSPOD Circular No 02 of 2022
July 06, 2022 

The Presidents/Chief Executive Officers
All Banks/MFBs/ EMIs/PSOs/PSPs

Dear Sir/Madam,

Implementation of Regulatory Approval System (RAS) for
Payment Systems Policy & Oversight Department (PSP&OD)


       In order to improve efficiency and effectiveness of regulatory approval process, the State Bank of Pakistan has developed Regulatory Approval System (RAS) which provides a secure online portal to Banks/MFBs/EMIs/PSOs/PSPs (hereunder referred to as regulated entities) to submit requests/proposals and subsequently receive regulatory decisions digitally and securely. RAS has previously been implemented for Banking Policy & Regulations Department and Exchange Policy Department. Similarly, RAS for PSP&OD has been completed and is ready for industry-wide implementation.

2.   In this regard, User Manual and Administrator User Manual covering detailed guidance with respect to operating RAS as a user and an administrator are enclosed herewith as Annexures A and B respectively. Administrator of a regulated entity shall be able to create maximum five (05) users, who will be able to further perform tasks as detailed in the User Manual.

3.    RAS will function in parallel with manual submission of requests/proposals for a period of one and a half months (1.5 months) from the issuance of this circular. Subsequent to the said period, all submissions to PSP&OD shall be entirely paperless (except for some documents that shall continue to be submitted manually e.g. legal documents).

4.     Henceforth, all the regulated entities are advised to submit requests/proposals pertinent to the functions of PSP&OD through RAS using the following link:

5.     Moreover, to ensure standardized submission process, regulated entities shall:

  1. Submit requests/proposals along with all necessary documents including cover letter on company letterhead. The requests/proposals shall include detailed description of the underlying case and shall be duly signed by Group/Business Head and Compliance Chief.

  2. Ensure to keep complete record of cases processed through RAS and shall furnish the same to SBP as and when required.

  3. Ensure that their users and administrators have thoroughly reviewed the Terms and Conditions (T&Cs) and Standard Operating Procedures (SOPs) of the RAS portal before using the system.

6.    To facilitate users of RAS, a Service Help Desk has also been set up where complaints regarding business and technical aspects of RAS may be lodged. Service Help Desk User Manual has been enclosed as Annexure C to help users navigate through Service Desk. The Service Desk can be accessed at the following link:

7.     All the regulated entities shall meticulously ensure that all submissions to PSP&OD are complete in all respects and compliant with all applicable laws, rules and regulations.

8.     Please acknowledge receipt.


  1. Annexure-A - RAS User Manual
  2. Annexure-B - RAS Administrator User Manual
  3. Annexure-C - Service Help Desk User Manual


Yours faithfully,


(Shoukat Bizinjo)
Additional Director

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