As the business is expanding and banks are positioning themselves to take advantage of emerging opportunities, the technology adoption becomes imperative to get a competitive edge to deliver services in an efficient and cost effective manner. Accordingly, almost all the banks in Pakistan have embarked upon major IT projects that will improve their operational efficiency and strengthen internal controls.
Anti-money laundering and Combating Financing of Terrorism (AML/CFT). Pakistan like other jurisdictions has adopted a comprehensive set of PRs to enhance its vigilance on money laundering and terrorist financing.