SBP extends interbank credit card settlement period until December 31

MG News | July 31, 2023 at 11:19 PM GMT+05:00

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July 31, 2023 (MLN): In order to facilitate seamless transactions and enhance customer convenience, the State Bank of Pakistan (SBP) has decided to extend the interbank credit card settlement period for dollar payments.

Accordingly, the settlement period has now been extended for an additional five months until December 31 from the initially set date on July 31.

This decision came as part of the SBP’s ongoing efforts to boost the country's financial infrastructure and support the growing demand for credit cards.

By allowing credit card payments in dollars to be settled through interbank transactions, the SBP’s objective is to promote smoother and more efficient cross-border transactions for both businesses and individuals.

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