Pakistan is poised to crack down on cyber crime as part of an effort to enhance digital commerce in the country, according to an article in The Nation. Senator Ishaq Dar, the country’s Finance Minister, announced yesterday that new legislation is forthcoming.
Senator Dar highlighted the importance of branch-less banking for Pakistan’s economy, and argued that electronic banking could reduce the rates of fraud while providing greater financial access to the most underprivileged segments of the nation. He said that the government’s efforts “to improve market structure and efficiency through modern infrastructure… will create jobs for lower income people, facilitate poverty alleviation, and promote human capital development.”
The minister also highlighted a new agreement between the State Bank of Pakistan (SBP) and the National Database and Registration Authority (NADRA) as a part of this effort; the agreement is to implement biometric identification methods into banking services nationwide, an effort similar to one recently undertaken in Nigeria that will undoubtedly go a long way towards enhancing the security of digital banking. Pakistan’s efforts in these regards also echo those of its neighbor India, where the government is compiling a biometric registry of citizens to help facilitate a range of government services including provision of health care.
—
November 18, 2014 – by Alex Perala
Follow Us