According to the news sources, the governor of State Bank of Pakistan (SBP) Reza Baqir announced on Tuesday the government’s plan to offer digital on-boarding payment solutions for overseas Pakistanis.
In this announcement, he said that Pakistan plans to involve overseas Pakistanis to support foreign exchange reserves by enabling them to open digital accounts in the country from the coming week.
He considered this development as an opportunity for the overseas Pakistanis to invest in ‘one of Asia’s best-performing stock markets, purchase government debt, and conduct basic banking.
Baqir further disclosed that eight domestic banks have already agreed to facilitate the move of opening accounts and deposits either in US dollars or Pakistani rupees. He likewise said that the government will launch a debt certificate for overseas investors to take advantage of the digital accounts.
He included that the SBP has no issue with the inflation outlook and is all set to focus on economic development and checking unemployment.
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