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A brief on Regulations for Electronic Money Institutions (EMIs)

A brief on Regulations for Electronic Money Institution

State Bank of Pakistan [“SBP”] vide its circular letter ERD/M&PRD/PR/01/2019-34 dated 1 April 2019 launched Electronic Money Institutions [“EMIs”] Regulations [“Regulations”] that will be licensed by SBP to issue e-money for the digital payment.

Amyn Malik

Partner, Audit

KPMG in Pakistan


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A brief on Regulations for EMIs


The purpose of these Regulations is to provide regulatory framework for EMIs desirous of offering innovative payment services to the general public; to prescribe minimum service standards and requirements for EMIs to ensure delivery of payment services in a safe, sound and cost effective manner; to outline the permissible activities that can be carried out by an EMI and its agents' network; to provide a baseline for protection of EMI’s customers; and to achieve the SBP’s objective of digital payments and financial inclusion.


These Regulations shall come into force with immediate effect.

This publication contains a synopsis of these Regulations

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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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