Pakistani banking sector needs an overhaul

[alis]

Do you know that for your to transfer money from a account in europe/UK and transfer it to money exchanger and for them to transfer it to Pakistan take less than 1 minute usually and then for Pakistanis to only show that amount in your account, they need 1-4 business days. They cry about overseas remittances but don't care if the system is making it difficult for common overseas man to do it legally.

 

[PappuChikna]

forget about that...talk about the recent hacking of banks.
No official statement by any bank.

Bank Islami internet banking still down and they did not bother to put any notice or announcement on their website.

Worse banking system.

 

[JohnSnow]

Pakistani banks are all controlled by few families. They take deposits from everyone but give loans only to their personal and other big businesses.

Late payment is a way to open doors for other sub-standards services like easypaisa and jazzcash. This is how their other friends make money.

Even if you deposit money in your own account from another city, they charge money.

 

[JohnSnow]

Do you know that for your to transfer money from a account in europe/UK and transfer it to money exchanger and for them to transfer it to Pakistan take less than 1 minute usually and then for Pakistanis to only show that amount in your account, they need 1-4 business days. They cry about overseas remittances but don't care if the system is making it difficult for common overseas man to do it legally.

BTW, this was the reason Zulfiqar Ali Bhutto got pissed off and nationalized all of them. They were worthless back then and they are still worthless.

 

[aazad.mubassir]

Banking in Pakistan still works on century old system. Where all the paperwork are done manually. Since there's no electronic devices security and customer privacy laws in place. They cannot do on their own without SBP approval.

PTI appointed an MQM IT minister, who's just capable to say JEE BHAI or BORI TAYAR KARO. I have a serious doubt about PTI vision of bringing PAYPAL or similar company to Pakistan.

 

[Jamal1]

my pakremit.com account was temporarily disabled for expired license on the record, when i called the help line it was answered by an Indian ... WTF was that National Bank of Pakistan ???

yeh bhi din aney thay kay hum apnay mulk paisay bhejay aur indians hum sy sawal karey ???

fcuk that sheit ... immediately stopped using it ....

Thankfully NBP left the remittance market in 2016