KARACHI, April 26: State Bank Governor Dr Ishrat Husain said on Saturday that despite starting late, Pakistan has made extremely rapid progress in e-banking.
He was speaking at inaugural session of TechMedia 2003 conference on “E-commerce, Information Technology and Media Development”, organized by Conceptual Factor Inc., in collaboration with Federation of Pakistan Chambers of Commerce and Industry (FPCCI), at Federation House here.
“During the last two years, almost 40 per cent of bank branches have been automated and it is expected that by 2004 almost 50 per cent of the branches would be automated,” the SBP governor said adding that the rate of increase during the last two years has been 300 per cent.
“This is one of the fast growing e-banking in the world,” he remarked.
The SBP governor said that besides automated branches the number of on-line branches has increased from 570 to 1,356 in the two years, which is a growth rate of 376 per cent. He said that many banks have started web-based banking.—APP
