STATE BANK OF PAKISTAN

Crypto / Digital Assets

Pakistan Moves to Regulate Virtual Assets for the First Time

By Mark Johnston | 17/04/2025

A national working group has developed a regulatory framework establishing rules for cryptocurrencies and related platforms.

Market Infrastructure

Pakistan Introduces Electronic Platform for Interbank FX Trades

By Editors | 02/02/2024

The platform provides real time price visibility and features a new electronic matching system for interbank FX trades.

AML / KYC

Pakistan Passes Bill to Establish New AML/CFT Authority

By Editors | 04/08/2023

State Minister for Foreign Affairs Hina Rabbani Khar said the legislation will help to ensure Pakistan remains off the FATF grey list.

AML / KYC

Pakistan to Launch Blockchain-based KYC Platform for Banks

By Sanday Chongo Kabange | 04/03/2023

Participating banks will be able to perform assessments of their customers using information available at any other bank using the new platform.

Market Infrastructure

China to Establish RMB Clearing Arrangement in Pakistan

By Editors | 03/11/2022

The arrangement will enable Chinese and Pakistani companies and FIs use RMB in cross-border transactions, thereby promoting trade and investment between the two countries.

Capital / Liquidity

Pakistan Sets January 2023 Deadline for IFRS 9 Adoption

By Editors | 18/07/2022

IFRS 9 will prompt a one-off increase in banks’ loan-loss provisioning, diminishing shareholder capital. Banks will also be pressured by increased taxes.

AML / KYC

US Regulators Fine National Bank of Pakistan $55m for AML Violations

By Sanday Chongo Kabange | 01/03/2022

National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.

AML / KYC

Pakistan to Pass Two New Laws to Meet FATF Action Plan

By Sanday Chongo Kabange | 15/05/2021

The laws cover the handling of forfeited properties and assets, and the transfer of money laundering cases to specialised agencies.

AML / KYC

Pakistan’s Central Bank Releases Compliance Risk Management Guidelines

By Garima Chitkara | 10/08/2017

State Bank of Pakistan guidelines to promote a “compliance culture” in banks and encourage the adoption of a risk-focused approach to compliance.