The State Bank of Pakistan (SBP) has announced the setting up of a high-powered Working Group of leading banks to take care of technical problems and drawing out the time-frames with regard to the implementation of the Real-Time Gross Settlement (RTGS) System in the country.
This announcement was made by the SBP Governor Dr Shamshad Akhtar while addressing the chief executives of banks and RTGS Co-ordinators at a presentation ceremony held here on Thursday. She said that this group will thoroughly review the problems identified by the CEOs and RTGS Co-ordinators and would come up with the solutions leading to the successful implementation of the system.
Shamshad Akhtar said that the group would also review the roadmap for the implementation of RTGS system in the country. "We will move forward in a co-ordinated manner to successfully implement the RTGS system in the country", the SBP governor added.
She assured the participants that the SBP would take up the relevant issues with the PTCL, adding both the SBP and the financial industry need to prepare themselves adequately for eventual adoption of the RTGS.
Earlier, RTGS Project Manager Saeed Siddiqui made a detailed presentation on the RTGS to CEOs and Co-ordinators.
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