KARACHI: The State Bank of Pakistan (SBP) has clarified reports circulating on social media regarding a two-hour cooling period in digital funds transfer.
According to the central bank, all digital funds transfers are conducted on a real-time basis, with amounts almost instantly credited to the recipient’s account.
The two-hour cooling period applies only to branchless banking wallets/accounts, restricting the use or withdrawal of funds during this time.
The State Bank of Pakistan explained that while funds are transferred immediately to branchless banking accounts, their withdrawal, online purchases, or mobile top-ups are only possible after the two-hour cooling period.
This condition was introduced in April 2023, as customer due diligence requirements for branchless banking are relatively simple and therefore carry a higher risk of fraudulent transactions.
The two-hour window provides customers an opportunity to report any suspicious or unauthorized transactions to their bank. The SBP added that these instructions, in place for the last two and a half years, have proven to be an effective safeguard against fraud.
Earlier, the State Bank of Pakistan (SBP) kept the policy rate unchanged at 11bps in its new monetary policy.
The Monetary Policy Committee (MPC) session, chaired by the Governor SBP, met to decide on the monetary policy.
“The Monetary Policy Committee decided to keep the policy rate unchanged at 11 per cent in its meeting held on September 15, 2025,” the SBP said on its website, adding that a detailed statement will be released shortly.
The State Bank’s latest data shows that inflation stood at 3 per cent in August 2025, while the current account deficit for July was recorded at $240 million.
Experts believe that despite stable inflation, the economic challenges triggered by the floods leave little room for a rate cut. –Agencies
