The State Bank of Pakistan (SBP) has instructed banks to create and implement digital solutions for supply chain finance over the next six months.In order to increase SMEs’ access to financing and digitize retail payments,
According to the SBP circular, banks must set up efficient Supply Chain Finance (SCF) departments with appropriately qualified HR staff and systems in order to create and provide SMEs with digital SCF solutions.
The banks have additionally been instructed to either create their own digital SCF solutions or collaborate with Fintech service providers to offer digital SCF.In addition to providing SMEs with easier access to financing, the DSCF solutions will boost risk management procedures, save expenses, and improve operational effectiveness.
