Staff Reporter

LAHORE: The State Bank of Pakistan (SBP) has launched a new digital investment platform, InvestPak, enabling individuals and corporations to invest in government securities entirely online.&nbsp;The initiative forms part of the central bank&rsquo;s broader strategy to modernize Pakistan&rsquo;s financial infrastructure and accelerate the shift toward a cashless economy.&nbsp;According to the SBP, InvestPak digitizes the entire investment process for customers holding rupee accounts with banks, primary dealers (PDs), and microfinance banks (MFBs). Through the web portal, users can open Investor Portfolio of Securities (IPS) accounts, submit bids in primary auctions, and trade government securities in the secondary market without visiting a branch.&nbsp;&ldquo;All banks are mandated to facilitate customer registration on the portal,&rdquo; the SBP said in a circular. &ldquo;Microfinance banks are encouraged to extend the same facility to their clients. All financial institutions must ensure efficient onboarding and a seamless user experience.&rdquo;&nbsp;The system allows users to link and operate multiple rupee and IPS accounts across different financial institutions via a single login, with registration requests required to be processed within two working days.&nbsp;As of June 30, 2025, total investment in government securities stood at Rs46.566 trillion, with scheduled banks holding Rs38.7 trillion (83%) and corporates Rs7.856 trillion (17%). The SBP expects that opening access to individual investors through InvestPak will broaden participation, deepen the domestic debt market, and diversify the investor base.&nbsp;The launch comes as the central bank advances a comprehensive digitalization roadmap. In September, the National Assembly&rsquo;s finance committee was informed that all federal and provincial government payments are to be fully digitized by June 2026, including transactions of state-owned enterprises.&nbsp;SBP Governor Jameel Ahmad told the committee that the central bank is taking &ldquo;comprehensive steps to promote a secure, inclusive, and technology-driven payments ecosystem,&rdquo; noting that 88% of retail transactions in Pakistan are now digital&mdash;a major shift reflecting the rapid uptake of electronic payments.&nbsp;Pakistan&rsquo;s digital financial infrastructure currently supports 226 million bank accounts and 46 million Raast IDs. To strengthen consumer protection, the SBP has introduced a bank liability framework and a mandatory two-hour cooling-off period for digital transfers to mitigate fraud.&nbsp;The digital banking landscape is also expanding. Mashreq Bank recently became the first international bank to launch full digital operations in Pakistan, rolling out nationwide services in 12 months&mdash;significantly faster than the global average of five years. Five additional digital banks have received in-principle approval to operate.&nbsp;To promote innovation, the SBP has also backed new digital payment solutions. Governor Ahmad recently inaugurated the JazzCash Experience Lounge, featuring facial and palm biometrics, wearables, and QR-based payment technologies.&nbsp;The SBP said InvestPak represents a major step in expanding public access to investment opportunities in Pakistan&rsquo;s financial markets, calling it part of a long-term transition to &ldquo;a more transparent, inclusive, and digitally driven economy.&rdquo;

Economy

The State Bank of Pakistan launched InvestPak, a digital platform enabling individuals and corporates to invest in government securities online, aiming to modernize financial infrastructure, promote inclusion, and advance Pakistan’s cashless economy

Pakistan’s central bank launches InvestPak to expand digital access to government securities

Faraz Saeed

LAHORE: Pakistan received $12.9 billion in workers&rsquo; remittances during the first four months of the current fiscal year (4MFY26), marking a 9.3% increase from $11.9 billion in the same period last year, according to data released by the State Bank of Pakistan (SBP). In October alone, remittances amounted to $3.4 billion, up 12% year-on-year. On a month-on-month basis, inflows rose 7% from $3.2 billion in September, representing one of the strongest monthly inflows in recent months. The SBP said the rise reflected the government&rsquo;s ongoing push to encourage formal channels and expand digital transfer systems, while reducing reliance on informal money transfer networks. Saudi Arabia remained the single largest source of inflows, contributing $821 million in October, an increase of 9% from September and 7% higher than the same month last year. Remittances from the United Arab Emirates totaled $698 million, up 12% year-on-year. Inflows from the United Kingdom reached $488 million, rising 13% annually and 7% from the previous month. The United States sent $290 million, showing an 8% month-on-month increase, though 4% lower than a year earlier. Meanwhile, receipts from European Union countries surged 27% year-on-year to $457 million. Pakistan recorded $38.3 billion in total remittances during FY25, the highest annual inflow on record. Prime Minister Shehbaz Sharif welcomed the increase, calling overseas Pakistanis &ldquo;a backbone of the economy.&rdquo; &ldquo;Overseas Pakistanis are our invaluable assets, serving the nation by sending their hard-earned money,&rdquo; he said. &ldquo;The consistent rise in remittances reflects the trust expatriates have in our economic direction.&rdquo; Analysts said higher remittances are providing much-needed support to Pakistan&rsquo;s external account, especially as export growth remains subdued. Waqas Ghani, Head of Research at JS Global, said remittances had &ldquo;clocked in at one of the strongest levels in recent months,&rdquo; adding that cumulative inflows of $12.96 billion in 4MFY26 indicated &ldquo;a decent 9 percent year-on-year growth.&rdquo; However, he cautioned that sustaining the trend will depend on &ldquo;consistent policy support, expansion of digital channels, and diversification of overseas labor markets.&rdquo; The Pakistan Remittance Initiative (PRI), launched in 2009 to encourage the use of formal banking channels, continues to play a central role. The number of participating financial institutions has grown from around 25 in 2009 to more than 50 by 2024, improving speed and security for overseas senders. Economists say remittances, now Pakistan&rsquo;s largest source of foreign exchange, will remain critical for economic stability as the country continues to face external financing pressures and persistent inflation.

With Saudi Arabia among largest contributors, Pakistan received $12.9bn in remittances during 4MFY26, rising 9.3%, bolstering external finances as authorities promote formal transfer channels.

Pakistan remittances rise to $12.9 billion in early FY26: central bank

ISLAMABAD: Pakistan&rsquo;s information technology (IT) and IT-enabled services exports reached $1.057 billion in the July-September 2025 quarter, according to data from the State Bank of Pakistan (SBP). This marks the first time the country has surpassed the $1 billion threshold in a single quarter, a 20% increase from $877 million in the same period last year, noted the Head of Equity Research at JS Global, Waqas Ghani. In the first quarter of fiscal year (FY) 2026, IT exports accounted for 48% of total services exports, as per the SBP. The sector has grown steadily from $300 million in the first quarter of FY 2020 to over $1.1 billion in the first quarter of FY 2026. Last fiscal year, the sector reached $3.8 billion in total exports. Third-largest source of foreign exchange IT is Pakistan&rsquo;s third-largest source of foreign exchange, after textiles and rice. It accounts for 45% of total services exports by the end of FY 2025, according to the IT and Telecom Ministry. Waqas Ghani said IT remains a key sector with a consistent trade surplus. &ldquo;Last fiscal year, the sector posted an 87% trade surplus. This was driven by strong demand for software development, IT-enabled services, and freelance exports,&rdquo; he told PakistanTV Digital. Technology analyst Ali Raza called the $1 billion quarterly milestone a sign of growth. &ldquo;The ecosystem has matured, the talent base is stronger, and confidence in our digital infrastructure is increasing,&rdquo; he said. Government&rsquo;s ambitious aims The government has set a target of $5 billion in IT exports for FY 2026 under the &ldquo;Uraan Pakistan&rdquo; initiative. The aim is to reach $10 billion by 2029, positioning technology as a key driver of economic growth. The sector&rsquo;s expansion has been supported by policy changes, including the SBP&rsquo;s decision to raise the retention limit for exporters&rsquo; foreign currency accounts from 35% to 50%. The move provides exporters with greater control over earnings and investment abroad. Stable exchange rates have further encouraged the repatriation of profits, improving the financial environment for exporters.

Pakistan’s IT exports hit $1.057 billion in July-September 2025, marking record growth supported by government targets, policy support, and expanding global market presence.

Articles tagged with "State Bank of Pakistan (SBP)"

Pakistan’s central bank launches InvestPak to expand digital access to government securities

Pakistan remittances rise to $12.9 billion in early FY26: central bank

Pakistan’s IT exports cross $1 billion in single quarter