KARACHI: To ensure enhanced security with the rising digitisation of the financial system, the State Bank of Pakistan (SBP) has decided to transition from web-based to Virtual Private Network (VPN)-based access from May 30.

In a circular issued on Friday, the State Bank said it had digitised the end-to-end process of receiving requests/proposals from regulated entities (REs) and disseminating its regulatory decisions through the regulatory approval system (RAS). A service desk system an end-to-end complaint management portalhas also been established to resolve REs` complaints regarding SBP-hosted portals, including RAS.

The REs have been advised to acquire the required MFA accounts in a timely manner to ensure compliance and a seamless transition to VPN-based access to RAS and the service desk.Staff Reporter