Betterment: State Bank asks banks to improve services

State Bank's policies towards new bank branch licences has undergone major changes for better outreach.

KARACHI:

State Bank of Pakistan Deputy Governor Muhammad Kamran Shehzad has asked banks to focus on improving their service standards and to serve people in an efficient and professional manner.

“Banking is actually people’s confidence and it is necessary for ensuring soundness of our banks and banking system,” he said after inaugurating a corporate branch of Bank of Khyber here on Monday.

Over the last few years, the State Bank has brought about major changes in the branch licensing policy which has allowed a menu of options to banks for expanding their outreach to all nooks and corners of the country. This is aimed at expanding financial services to unbanked and rural areas.

“The policy allows opening of branches for conventional banking services as well as segment-specific branches like microfinance services, Islamic banking branches and smaller limited service set-ups like sub-branches and permanent booths,” Shehzad said, adding banking rules and regulations had been designed to provide an even playing field to all banks.

Published in The Express Tribune, December 27^th, 2011.