Govt to streamline remittances
The monetary policy committee noted that headline inflation registered a broad-based and considerable year-on-year decline PHOTO: FILE
The Executive Director of the State Bank of Pakistan, Syed Sohail Jawad, announced on Saturday that the government is committed to integrating overseas Pakistanis into the national financial system. Speaking on PTV News, he acknowledged the challenges faced by overseas Pakistanis in sending money to their families in Pakistan, citing the process as expensive and time-consuming.
To address these issues, the State Bank launched the Roshan Digital Account, designed to streamline remittance-related concerns. Additionally, the Raast payment system, based on international standards, was introduced to facilitate faster and more affordable transactions. Jawad highlighted the government's collaboration with Buna, supported by 22 Gulf countries, through the Buna-Raast connectivity project.