Karachi:
State Bank of Pakistan has introduced a comprehensive structure to facilitate an account opening for general consumers and traders and banks, which has been directed to provide digital methods of payment to traders.
According to the State Bank, the aim of the new structure is to make the account opening process easier and standard, as well as to meet the document requirements and general users will not take more than two days to open a new bank account.
The State Bank said that consumers should also have the facility to track their requests, which would make the process transparent and user -friendly.
It was reported that the customer onboarding process is made easy, safe and effective, now users will be able to open all types of accounts online.
State Bank has directed banks to equip all traders in a minimum way to accept digital payments and support new traders in opening an account.
It was said that these measures are continuity of efforts to increase financial inclusion and improve facilities for consumers, and these measures would improve the environment to digitize individuals and traders outside the banking stem and digitize cash payments.