Online fund transfers: NBP collaborates with NAB on cash management payment portal

KARACHI: NBP at forefront of digital transformation towards cashless banking in Pakistan, enabled National Accountability Bureau on Smartpay.

The initiative has enabled fast, secure, and paperless transaction processing solution to bring ease for round the clock payments. This milestone demonstrates NBP’s commitment to delivering efficient and transparent digital payment solutions, further strengthening NBP’s role in supporting institutional partners with reliable electronic services.

To mark this milestone, a signing ceremony was held at NAB Headquarters, led by Chairman NAB Lt-Gen. Nazir Ahmed (retd). The event was also graced by Syed Farooq Hasan, Group Head (A) NBP, along with senior officials from both organizations. During the ceremony, the NAB Chairman initiated the online transfer of funds, directly crediting the bank accounts of the affectees.

Previously, NAB returned funds to affectees through bulk pay orders issued via NBP’s relationship branch—a manual and time-consuming process that required physical visits to NAB offices. With this digitized solution, NBP has revolutionized the disbursement process, ensuring funds are transferred directly and efficiently into affectees’ accounts.

The new system ensures that the refunds are processed faster, more securely, and with greater ease for the citizens. NBP is working with NAB on this important initiative towards greater transparency and digital efficiency in the financial system of Pakistan. The bank continues to support initiatives that protect citizens and build trust in financial institutions.

Copyright Business Recorder, 2025