August 29, 2002	Thursday	Jamadi-us-Saani 19,1423

KARACHI, Aug 28: Speakers at a seminar held here on Wednesday urged the banks to push for service-based technology progress to benefit the customers.

The seminar organized by Transaction Processing Systems (TPS) — a company specializing in ATM and switching technologies — was inaugurated by Sindh Finance Minister Dr. Hafeez Sheikh, says a press release.

“In the challenging era of e-commerce it is imperative for both the government and the private banking sector to work closely with each other,” said Dr. Hafeez Shaikh. He appreciated the State Bank move to prepare the banks to face the growing e-commerce challenges.

The central bank has set June 30, 2002, as the deadline for the banks to become a member of either of the two switches operating in Pakistan — one by ABN and the other by Muslim Commercial Bank.

The speakers at the seminar said this major development would provide all the banking customers with the facility to access their funds through the existing switches.

Country assistant manager of ABN Amro, Najibur Rehman said it was time for the banks to focus on service-based technology progress.

Head of consumer banking in MCB, Arij Ali was of the view that switching transition should be economical so that the banks can find it feasible to update themselves with the growing market demands.