Promoting digital services: SBP declares BOK as e-stamping agent

PESHAWAR: The Bank of Khyber (BoK) and the State Bank of Pakistan (SBP) have signed an Agency Agreement in Peshawar to initiate the e-stamping project which designated the former as a collecting agent for e-stamping in KP.

A press release said the ceremony was attended by Ahmed Rasool Bangash, Minister for Finance, Revenue, Excise, Taxation & Narcotics, Khyber Pakhtunkhwa; Qadir Bakhsh, Director Finance, SBP; Aamir Tareen, Secretary Finance KP Government; Sahibzada Ali Muhammad, Managing Director, KP Board of Information Technology; Irfan Saleem Awan, acting Managing Director / CEO Bank of Khyber; Sher Muhammad, Group Head Conventional Banking BoK; Ihsanullah Ihsan, Group Head Remedial Assets Management, BoK; Asim Bashir, Group Head Digital Banking BoK; senior officials from KP Government, State Bank of Pakistan, KP-IT Board, Board of Revenue and Bank of Khyber.

The initiative aligns with the KP government’s vision of promoting digital services and ensuring ease of doing business in the province.

Embracing the power of technology, citizens of KP can now obtain stamp papers effortlessly within minutes, at the click of a button, thanks to a seamless process offered by the BoK.

The e-stamping project will be rolled out across the province phase-wise and is expected to enhance revenue collection while providing complete data reconciliation.

The process is very simple. Citizens generate challan through a web portal and then visit BOK branches to pay the relevant duty mentioned on challan and get an e-stamp certificate on the spot from the same branch.