Telephonic Banking System to be Launched for Overseas Pakistanis

Governor State Bank, Saleem Raza in a briefing to Senate Standing Committee on Finance said that Government will introduce “telephonic banking system” for overseas Pakistanis to encourage and promote remittances for the economic development of country.

State Bank of Pakistan briefed that the telephonic bank system would facilitate the families of the overseas Pakistanis and it would also discourage the sending of remittances through unofficial channels like “Hundi system”.
Such a Telephonic Banking System is going to help building foreign exchange reserves in the country.

We know that there is an online banking system available for overseas Pakistanis, where they can open/operate a bank account in Pakistan from abroad.

Via [The Nation]

Tech reporter with over 10 years of experience, founder of ProPakistani.PK


  • Somebody should introduce the Governor to PayPal and its potential to start a remittance revolution by enabling small businesses to sell their goods directly to the west.

  • Ztauseef

    Please can you give me a web address for this “We know that there is an online banking system available for overseas Pakistanis, where they can open/operate a bank account in Pakistan from abroad.”

    • @Ztauseef, its UBL, http://www.ubl.com.pk or call their hotline 0800-11825 (hotline is for Pakistan only)

    • ibraheem

      do you know any islamic bank in PK also provide such facility (opening acc online), i failed to find one on web…

  • Addicted

    Dear Sohaib Athar

    PAYPAL is not the solution. If you make a transaction on PAYPAL, you get charged from PAYPAL only

    Online or Telephone Banking System is definately going to help build foreign exchange reserves in the country.

    @ ibraheem – there is no such bank which will provide you opening an Online account. you have to prove your identity by person only

    • Khurram Shamsher Lall

      @ addicted:

      You have mentioned that no bank in Pakistan opens an account for overseas Pakistanis online; physical presence is always required. This is not true. I have not visited Pakistan since 1988; yet in 2006 I opened my PKR current account with UBL entirely online. I had just to post a copy of my passport and NICOP to their New York branch as verification, and that was it. Signature card was authenticated through a local bank on fiduciary basis, and I received my chequebook and 1LINK ATM card through postal mail.

  • ibraheem

    but i was asking about islamic banking, UBL doesn’t seem to offer islamic banking services.

    • Khurram Shamsher Lall

      @ Ibraheem – UBL does indeed offer Islamic Banking; it is called “UBL Ameen”. See full details on their website, http://www.ubl.com.pk

  • irfan

    my nicop is under making (applied)
    ! by tracking it shows data enter ! but on inqury from nadra they say objection came up so what i have to do now how i can get my nicop i am in jakarta and my recipt number is 92640 jakarta ! plz guide thanks Wsw IRFAN RAZA

  • irfan

    i will never get reply ! i know