SBP Increases retention limit to 50 % to empower IT Exporters and Freelancers State bank of Pakistan In order to facilitate the IT exporters to boost the exports of IT and IT enabled services. What change has happened ? SBP has increased the permissible retention limit of IT exporters from 35% to 50% of their…
Bank Account Scams: how to avoid them. Introduction Modern digital banking has opened the door to an array of bank account scams that threaten financial security. In this blog we are sharing the evolving landscape of bank account scams, shedding light on their various forms, the tactics employed by scammers, and most importantly, how you…
The Roshan Digital Accounts initiative. Launched by the State Bank of Pakistan, this innovative program has opened up a world of financial opportunities for overseas Pakistanis. Empowering Overseas Pakistanis Overseas Pakistanis faced challenges in managing their finances back home. Traditional banking systems were often cumbersome, and the need for physical presence in Pakistan made it…
How to open a digital bank account a step by step guide: Opening a digital bank account has become a convenient and efficient way to manage your money. Whether you’re new to the world of digital banking or looking to switch from a traditional bank, this step-by-step guide will walk you through the process of…
21st Century and The Digital Banking Boom: The rise of digital banking, driven by technological advancements and changing consumer preferences, has reshaped the way we manage and interact with our finances. This digital banking boom has not only improved convenience for customers but has also challenged traditional banking models and opened the door to innovative…
International money transfer-Myth and logic: Awareness of documentation and the steps involved is integral whether you are sending money to support family members overseas, paying for international services, or investing in foreign markets, the process of sending funds across borders is more accessible than ever. However, to successfully complete an international money transfer, In this…
The Necessity of Opening a Bank Account in Today’s World: A bank account serves as a fundamental financial tool that provides individuals with access to a wide range of services and benefits. In this article, we will explore why opening a bank account is a necessity in today’s world and how it can positively impact…
Mechanics of Letters of Credit : In the world of international trade and commerce, trust is paramount. Businesses engaged in cross-border transactions face the challenge, this is where financial instruments like Letters of Credit (LCs) come into play. Letters of Credit are widely used to facilitate secure and efficient international trade by providing a mechanism…
How to open Bank Account on a US Tourist Visa, The United States, a land of endless opportunities and a popular destination for tourists from around the world, can be a puzzling place when it comes to certain administrative procedures, like opening a bank account while on a tourist visa. While the process might seem…
Plastic money revolution: Debit cards provide convenience but also come with risks. Using your ATM debit card securely is of paramount importance in today’s digital age, where financial transactions are increasingly conducted online. Since ATM card are widely customer by every age group customer as the most useable means of withdrawing or transferring money here…