SBP automates verification of refinance claims to facilitate exporters, banks

The verification of refinance claims made under the Export Finance Scheme has been automated by the State Bank of Pakistan (SBP).

This program fits into SBP's long-term plan to automate banking operations and make doing business easier, it was said.

According to the SBP, automated verification will greatly increase refinance operations' efficiency and exporters' access to funding.

With this change, banks may now verify refinance claims online and quickly make them available for performance calculation and loan eligibility.