National Bank of Pakistan (NBP) has taken another significant step toward driving Pakistan’s transition to a cashless economy by enabling the National Accountability Bureau (NAB) on its SmartPay platform. The collaboration introduces a fast, secure, and paperless digital transaction solution, designed to make payments more efficient, transparent, and accessible around the clock.
The move reflects NBP’s strategic commitment to supporting institutional partners with modern financial technologies that enhance operational efficiency and promote trust in digital banking systems. Through this integration, NAB can now directly disburse recovered funds to victims’ bank accounts, eliminating cumbersome manual processes that often led to delays and additional administrative overhead.
To officially mark this milestone, a signing ceremony was held at NAB Headquarters, attended by Chairman NAB Lt. Gen. Nazir Ahmed (Retd) and senior leadership from both institutions. Representing NBP, Syed Farooq Hasan, Group Head (A), joined the event along with other executives. In a symbolic moment during the ceremony, the NAB Chairman initiated the first online transfer, directly crediting the bank accounts of victims, highlighting the real-time efficiency of the new system.
Previously, NAB relied on a manual refund system through bulk pay orders issued at NBP’s relationship branch. This required beneficiaries to physically visit NAB offices to collect their funds, often facing procedural delays and additional costs. With the introduction of SmartPay, the entire disbursement process has been digitized, ensuring direct, secure, and quick crediting of refunds into recipients’ accounts.
NBP’s SmartPay platform leverages secure digital infrastructure to ensure payments are processed in real time, reducing the risk of fraud or errors while enhancing overall transparency in fund transfers. This digital initiative not only speeds up the refund process but also improves accessibility for citizens, enabling them to receive payments without the need for in-person interactions or paper-based documentation.
The partnership between NBP and NAB is part of a broader push to strengthen institutional efficiency, align with digital governance priorities, and enhance public trust in financial institutions. By introducing technology-driven solutions in sensitive processes like refund disbursements, the collaboration is expected to set a precedent for other government and regulatory agencies to adopt similar innovations.
NBP has been at the forefront of several key digitization efforts across Pakistan’s financial landscape, contributing to the development of secure and user-friendly banking solutions for individuals, businesses, and institutions. This latest initiative reinforces the bank’s commitment to modernizing payment systems and fostering greater financial inclusion through secure, technology-backed services.
By leveraging SmartPay, both institutions aim to build a more transparent and efficient financial ecosystem—one that prioritizes citizens’ ease and strengthens confidence in digital banking solutions.
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