It will cost more than $ million at its completion but equip the SBP with automated banking solutions, enterprise resource planning tools, data warehouse and connectivity and net working among its field offices and the headquarters. SBP will be able to access real on-time information on the banking institutions and not wait for three months to receive the reports.
The ability of the SBP to take timely corrective and remedial actions will thus be enhanced. The most critical asset of a regulating institution is its human resource base. The SBP is undertaking massive retraining of its professional staff in technical skills and recruiting talented young men and women directly from the market through a rigorous merit based competitive process at all levels.