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Biometric verification machines installed at 54,000 retail locations

08:54 PM | 27 Sep, 2016
Biometric verification machines installed at 54,000 retail locations
ISLAMABAD, Sep 27 (APP): The National Financial Inclusion Council (NFIS) here on Tuesday was informed that biometric verification machines have been established at 54,000 retail locations.

Finance Minister Muhammad Ishaq Dar chaired 3rd meeting of NFIS and reviewed progress on financial inclusion initiatives and allied indicators.

The council was informed that substantial growth had been witnessed in the areas of branchless banking, agriculture credit, micro-finance, SME finance and Islamic banking since launch of NFIS in May 2015.

Progress on initiatives like Exim Bank, Mortgage Refinance Company and Pakistan Micro-finance Investment Company was shared with the council.

The council noted that all levels of NFIS governance structure, including steering committee, expert committees and working groups had been fully operationalized.

Actions suggested by these committees had full ownership from private sector.

The council also over viewed key strategic initiatives approved by NFIS steering committee in its last meeting held in July 2016.

It was informed that on the basis of achievability, scalability and impact, 10 strategic actions were adopted covering all areas related to Financial Inclusion.

Finance Minister, Ishaq Dar appreciated public-private sector joint commitment for promotion of financial inclusion in the country.

While reviewing the recommendations presented to the council, the Finance Minister approved the major actions and advised the concerned stakeholders including National Registration and Database Authority, Federal Board of Revenue, provincial governments, State Bank of Pakistan and Ministry of Finance to further improve recommendations related to NADRA verification cost and taxation structure for branchless banking operations.

The minister advised that the Ministry of Finance to prioritize easing and facilitation of pensioners to ensure digital pension payments to them.

He urged the provinces to work more closely and actively within the NFIS council so that maximum benefits of financial inclusion were achieved all across the country.

The minister asked Economic Affair Division to facilitate State Bank of Pakistan (SBP) in obtaining technical and financial support from international development partners for setting up National Payment Gateway to be housed at SBP.

Finance Minister lauded efforts of SBP team and other council members and advised to maintain the momentum for achieving ultimate targets.

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207.1 209.1
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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