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Remove Service Charge on IBFTs to Encourage Digital Transactions

Author

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  • Mohammad Shaaf Najib

    (Pakistan Institute of Development Economics, Islamabad)

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.

Suggested Citation

  • Mohammad Shaaf Najib, 2021. "Remove Service Charge on IBFTs to Encourage Digital Transactions," PIDE Policy View Point 2021:30, Pakistan Institute of Development Economics.
    • Handle: RePEc:pid:pviewp:2021:30
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    File URL: https://file.pide.org.pk/uploads/pv-31-remove-service-charge-on-ibfts-to-encourage-digital-transactions.pdf
    File Function: First Version, 2021
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    More about this item

    Keywords

    Service Charge; IBFTs; Digital Transactions;
    All these keywords.

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