Financial services: SBP proposes Balochistan Bank

Wathra says plan has been forwarded to province’s chief minister

QUETTA: State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra said on Tuesday that the central bank was working on a scheme to establish a provincial bank in Balochistan, along with efforts to increase the presence of commercial banks in the region.

Speaking in Quetta, Wathra said the proposal for Balochistan Bank had already been forwarded to Chief Minister Nawab Sanaullah Zehri.

“We have held talks with Balochistan’s chief minister and discussed the need for improving banking activities in the province in the light of improved law and order situation and the China-Pakistan Economic Corridor project,” he said.

The SBP governor said executive officers of all banks had been directed to expedite credit and loan services in Balochistan to promote trade. He added that a 45-phase three-year plan was going to be implemented so that people could benefit from banking services through mobile phones.

“Seventy new branches of commercial banks will be opened in different parts of Balochistan, alongside a branchless mobile digital banking system which would strengthen the services in far-flung areas,” he said. “This will provide economic opportunities to the people of the province.”

Skilled women

Wathra also announced that a proposal for supporting skilled women in the region was being developed.

“Loans will be made available for the skilled women of Balochistan on easy instalments and the central bank would share the risk with commercial banks,” he said.

“We need to utilise the current economic opportunities and create awareness among female workers of their strength and ability in uplifting the economy,” he added.

Published in The Express Tribune, March 22^nd, 2017.

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