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NIFT & SNGPL Signed an Agreement
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NIFT and Sui Northern
Gas Pipeline Ltd. (SNGPL) signed an agreement
for Utility Bill Payment Processing & Reconciliation.
Contract signing ceremony was held at Sui Northern
Gas Pipeline Ltd.(SNGPL)
Mr. A. Rashid Lone, Managing Director
SNGPL
Mr. M. M. Khan, Chief Executive NIFT
signed the Contract.
Mr. Aamir Tufail, CFO SNGPL
Mr. Vaqar Nisar, CIO SNGPL
Mr. Sagheerul Hasan, GM Billing SNGPL
Mr. Faisal Iqbal GM Finance SNGPL
were also present at the Contract signing ceremony. |
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'DIRECT DEBIT FACILITY' Electronic
Filers of Returns, FBR, NIFT
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The Federal Board
of Revenue (FBR) has extended "direct debit
facility" to the electronic filers of returns
to deposit taxes into the National Bank of Pakistan
(NBP) electronically.
The board has launched this new innovative service
which would allow users of FBR 'internet portal'
to pay taxes electronically. Salient features
of the scheme revealed that it would be available
to taxpayers, who are using FBR
e-portal.
Sources said that the board has also linked e-filing
data with the NBP database for implementation
of the scheme. The security of the payment transactions
is being facilitated by digital signature certificates
issued by the
NIFT Digital
Certificate Authority, PKI (Public Key Infrastructure).
The new system has placed Pakistan at par with
the advanced countries where direct debit facilities
and digital certificates are commonly used by
the taxpayers. The PKI digital certificates provide
guarantee, authentication and non-repudiation
of transactions as envisioned in Pakistan's ETO
2002.(complete
story...) |
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Opening of New Clearing Centers
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NIFT proudly announces
opening of its new clearing centres in Bahawalpur,
D.I.Khan, Sukkur and Muzaffarabad extending its
coverage to fifteen major cities of Pakistan namely:
Karachi, Lahore, Islamabad, Rawalpindi,
Multan, Faisalabad, Peshawar, Quetta, Hyderabad,
Gujranwala, Sialkot, Bahawalpur, D.I.Khan, Sukkur
and Muzaffarabad.
By setting up two more centres in Sukkur and Muzaffarabad
, NIFT has completed its Nation-wide
Clearing Grid. |
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| 15-June-2006 |
E-Insurance
in the Agriculture Sector of Pakistan
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East West
Insurance and Metropolitan Assurance
signed an agreement on June 15, 2006 with NIFT
to use VeriSign Digital Certificates with their
partner banks to implement e-insurance services
in the agriculture sector of Pakistan. This system
will enable EWI and Metropolitan Assurance to
provide new insurance products and services economically
and efficiently for agriculture and life insurance
to the farmer community of Pakistan. The digital
certificates will ensure authentication, nonrepudiation
and encrypt exchange of the insurance data between
the two insurance companies, their partner banks
and other stake holders. This facilitation can
rightly be termed as the dawn of a new era in
the insurance business of Pakistan.
East West Insurance and Metropolitan Assurance
will introduce for the first time in Pakistan
insurance business, a combined policy coverage
for the farmers in rural areas by providing them
with agricultural insurance and life insurance
in the same policy.
Mr. Naveed Yunus
the CEO and Managing Director of East West Insurance
said, " EWI has taken the lead and set the
example for the insurance industry by extending
the use of technology to the rural areas for Agri
and Life insurance business. This service from
NIFT will enable much shorter processing time
in issuance of policy and settlement of claims
and establish legal paperless automation in the
agriculture insurance business bringing huge benefits
to the farmer community.
Mr. Maheen
Yunus, the Managing Director of Metropolitan Life
Assurance said, " This facilitation will
enable our two companies to offer a package of
Agriculture Insurance and Life Insurance to the
farmer community efficiently and cost effectively
thus cutting tremendously the processing time
to the benefit of the farmers and our partner
banks and other stakeholders."
Mr.
M. M. Khan (CEO NIFT) said, " we are
very pleased that EWI and Metropolitan. Assurance
have taken a pioneering step in of the agriculture
insurance business in Pakistan by bringing efficiency
in not only the approval and issuance of the policy
both for the agriculture and the life insurance
of the insurance business at the grass root level
and NIFT is proud to be able to contribute to
that process." |
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| 16-May-2006 |
SECP,
NIFT sign pact for e-Services
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DAWN,
Wednesday, May 17, 2006 |
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Islamabad, May 16 2006-: The
Security and Exchange Commission of Pakistan (SECP)
and National Institutional Facilitation Technologies
(NIFT) here on Tuesday signed
an agreement to enable the e-services initiative
for the corporate sector in Pakistan.
Through e-services all companies will be able
to communicate electronically over the internet
with the SECP with complete confidentiality, authentication
and non-repudiation, using digital signatures
generated through digital certificates issued
by NIFT (complete
story....). |
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Business
Recorder, Wednesday, May 17, 2006 |
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Chief Executive NIFT
M.M. Khan and Chairman SECP inked
the agreement on behalf of their respective organizations
on Tuesday. said that the finding of the March
crises investigation would help in pinpointing
the faults in the existing system.
The SECP Chairman at this occasion stated that
the e-filing would enable the public listed/unlisted
companies and private limited/unlimited companies
to submit annual/quarterly/ monthly reports to
the commission, online. The system would be in
place by September, which would be used by the
corporate sector including single member companies,
brokers, Non-Banking Financial Companies (NBFCs)
and insurance/ Modarabas companies.
The NIFT Chief Executive M.M. Khan told Business
Recorder that the corporate companies would be
given paperless environment to promptly submit
their data to the SECP.
Call Centers have been established in major cities
to guide (complete
story....). |
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Daily
Times, Wednesday, May 17, 2006 |
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The SECP believes that by implementing
e-services using digital signatures is an excellent
example of the kind of initiatives that are needed
to enable our nation to meet the challenges of
a rapidly-growing economy. The possibilities offered
by this facilitation will ease the interface between
businesses and the regulator. The SECP believes
that this initiative will bring in greater transparency
and efficiency in its functioning (complete
story....). |
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NIFT Enabling E-filing for CBR
in Pakistan: |
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Central Board of
Revenue (CBR) Government of Pakistan
in Agreement with NIFT has authorized NIFT to
issue class 2 digital certificate having 1024-bit
key length to stake holders of Central Board of
Revenue for electronically communicating with
CBR for the purpose of e-Filing of Returns for
Income Tax and Sales Tax presently." |
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Automated Cash Processing Centre
at State Bank of Pakistan |
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NIFT has set up modern
bank note processing system for banking
industry in Pakistan |
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State
Bank of Pakistan has selected
NIFT
to setup a modern bank note processing system
in the context of its clear note policy
being currently implemented. |
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NIFT has
installed BPS208 System from Geisekke &
Devriant of Germany at State Bank of Pakistan
at Karachi and Islamabad/Rawalpindi to process
the bank notes for identification &
segregation of the counterfeits, non issuable
notes due to graffiti/soil etc., face and
orientation and cut and claim notes, reissuable
notes, ATM fit notes of all denominations
and banding and packeting into bundles. |
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NIFT and Microsoft sign
agreement,
to bring powerful new security solutions to Pakistan.
more... |
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