Page 26 - NIBAF-Training Matters January - March 2022

NIBAF Quetta

NIBAF-Quetta conducted online
trainings in areas including con-
sumer financing, regulatory report-
ing and foreign exchange regula-
tions for the country-wide audience
while also offering Face-to-Face
trainings on aspects of branch op-
erations for remote areas of
Baluchistan.

Prudential Regulations
(PRs) for Consumer pects of opening and operating dif-
Financing Two iterations of Regulatory ferent categories of FCY Accounts
Regime for Foreign available as per Chapter-6 of the
Prudential Regulations are one of Currency Accounts Foreign Exchange Manual and the
the most complicated regulatory new categories of accounts that
frameworks for banks to under- Digitization coupled with regulatory can be opened under SBP’s Digital
stand. Hence a session on Pruden- initiative to support inflows from Onboarding Framework. The ses-
tial Regulations (PRs) for Con- overseas Pakistanis has opened up sion was attended by bank profes-
sumer Financing was conducted opportunities for banks to develop sionals from different functional ar-
on Jan 5-6, 2022 by Mr. Tanweer new banking products. Banks have eas including Roshan Digital Ac-
Ahmed Shaikh, Senior Joint Direc- started to offer products under the counts, Digital Customer Care
tor, Banking Supervision Depart- recently launched ‘Freelancer Digi- team, Branch Banking Operations
ment, SBP. Mr. Tanweer explained tal Account’ and the ‘Roshan Digital & IT, Quality Assurance, Liability
the need for regulators to issue Account’. In order to provide a ho- Product Management and Policy,
PRs, rationale for different sets of listic overview of the regulations un- Procedure and Operations Con-
PRs, minimum requirements for derlying these new products, two trols units.
Consumer PRs, and regulations for online sessions on Regulatory Re-
Card loans, Auto loans and per- gime for Foreign Currency Ac- Three iterations of reporting
sonal financing in detail. Partici- counts were conducted by Miss of Foreign Exchange
pants from Compliance & Monitor- Saima Hameed, Joint Director, Ex- Returns (ITRS)
ing, Credit Analysts, Consumer un- change Policy Department on Jan
derwriting officers, Policy Manag- 13, 2022 and March 16, 2022. Miss Several changes have been made
ers for Secured Products, Portfolio Saima discussed regulatory as- in Foreign Exchange Regulations in
Managers etc. attended the ses- order to provide an enabling envi-
sion. ronment for launch of SBP initia-
tives for Digital Onboarding of cus-
tomers including overseas Paki-
stanis. Reporting of Foreign Ex-
change Returns (ITRS) has simulta-
neously been updated to reflect
new categories of Foreign Cur-
rency Accounts, reporting of
Roshan Digital Account and de-
tailed mechanism of reporting of
Non-Resident Rupee Value Ac-
counts and Foreign Currency Value
Accounts (NRVA & FCVA). Hence
three one-day sessions were con-
ducted by Mr. Ghazanfar Aitzaz