Remove Service Charge on IBFTs to Encourage Digital Transactions

Mohammad Shaaf Najib
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Mohammad Shaaf Najib: Pakistan Institute of Development Economics, Islamabad

No 2021:30, PIDE Policy View Point from Pakistan Institute of Development Economics

Abstract: The State Bank of Pakistan (SBP) announced on June 16, 2021, that it has now allowed banks to charge a transaction fee of 0.1 percent of the transaction or PKR 200, whichever is lower on Inter-Bank Funds Transfers (IBFTs). SBP has made compulsory free-of-cost IBFTs of up to PKR 25,000 per month per account.

Keywords: Service Charge; IBFTs; Digital Transactions (search for similar items in EconPapers)
Pages: 4 pages
Date: 2021
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