Article Type
Article
Description
The State Bank of Pakistan has recently granted five licences for Starting digital banks that would provide the whole range of banking services through digital platforms or electronic channels from the comfort of homes and offices without making trips to brick-and-mortar branches of the banks. Two types of banks – digital retail banks and digital full banks – have been allowed both in the conventional as well as Islamic variants. The minimum capital requirement for digital banks is much lower than those for banks that are operating branches. A diverse range of applicants including domestic commercial banks, microfinance banks, electronic money institutions and Fintech players both from within and outside the country had applied for these licences.
Publication Source
The News
Publication Date
2-17-2023
Pages
1-4
Recommended Citation
Husain, ishrat. (2023, February 17). Policies for Digital Banking : Part - I. The News, . 1-4. https://ir.iba.edu.pk/faculty-research-press/407
Included in
Economic Policy Commons, Finance Commons, Policy Design, Analysis, and Evaluation Commons
