Pakistan has given the State Bank of Pakistan formal legal cover to set up a centralised digital store of banking data. The change comes through an amendment to the Income Tax Ordinance 2001, and it hands SBP the ability to hold records that were previously locked behind bank confidentiality rules. Background Banking data in Pakistan has long been protected under laws like the Banking Companies Ordinance 1962 and the State Bank of Pakistan Act 1956. Those laws made it hard for any single authority to pull transaction records together in…
Read MoreSBP Bank Data Access: New Law Lets Central Bank Build a Central Data Repository
