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]