| NIFT has
partnered with FMAP |
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NIFT and Financial Market Association of Pakistan (FMAP) have signed an agreement authorizing NIFT to produce KIBOR (Karachi Inter Bank Offered Rate), KONIA (Karachi Overnight Index Swap Rate), PKRV (Pakistan Revaluation Rate), and SUKUK by aggregating the financial market live data.
Mr. Shah Azim Azmi, President of FMAP said that NIFT’s aggregation facility will provide a neutral facility for simultaneous dissemination of important numbers to all content providers in a transparent manner. NIFT is a trusted partner of the banking industry who has been providing clearing services to all banks and their 6500 branches in similar environments for the last 15 years. NIFT’s neutrality and trust provides level playing field to all content providers.
Mr. M.M. Khan, CEO NIFT thanked FMAP for the confidence reposed in them and assured the FMAP and other stake holders for the neutrality and transparency of the system.
For further information,please visit our web site: FMAP |
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| NIFT has
partnered with SmartSoft Turkey |
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 SmartSoft,
established in 2001, provides complete payment solutions with the expertise in the fields of Payment Processing Solutions,
Card Personalization Solutions, Risk Management with Neural Fraud Systems, SmartCard Lifecycle Management, Level 2
and terminal Kernel Solutions, several Test tools, Training and other complimentary solutions.
Monitoring payment technologies; EMV and contactless payment standards very closely since 2001, SmartSoft has been
developing payment solutions to support issuing and acquiring institutions to manage their card business and is dedicated
to excellent product quality, innovative solutions and customer satisfaction.
By having new vertical solutions such as Transportation, Campus Solutions, Healthcare, City Card, etc and developing
unique solutions like EMV and Contactless Instant Issuing System is awarded by EPCA as “Most Innovative Software Solution
“ SmartSoft is rapidly increasing its market share.,
For further information,please visit our web site: SmartSoft |
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| NIFT has
partnered with Utiba Singapore |
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Utiba is a global technology leader in the space of mobile based transaction systems. Utiba’s expertise lies in
creating self sufficient ecosystems where mobile subscribers can conduct a wide variety of commodity based transactions
using a mobile base electronic wallet.
We create softwares that enables mobile payment transactions, that can be executed anytime,anywhere, and for any amount,
with simple and intuitive user interfaces.
The solutions and unparalleled service we provide to our customers through advanced software, business consulting,
and the experience and expertise of our team ensures our customers derive great value.
Pre-Paid airtime distribution, mobile banking, wallet based peer to peer funds transfers, international remittances,
loyalty management, VAS retail, micrfinance solutions, retail payments, utility bill payments, travel ticketing,
loan repayment, rural banking, and many more services have been deployed over mobile communication networks using Utiba’s
innovative technology solution. Utiba |
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| LSE
and NIFT sign data transmission accord |
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 NIFT
and Lahore Stock Exchange (LSE) signed an agreement
to facilitate and secure the submission of financial
data by LSE member companies.
The facilitation / transmission will allow member
companies to digitally sign all documents submitted
to LSE; under ETO 2002 all such documents electronically
/ digitally signed are deemed as authentic legal
and admissible in the court of law.
Mr. M M Khan, CEO of NIFT
said that “We are pleased to partner with
Lahore Stock Exchange to provide such security
services which shall bring the systems at the
Exchange at par with the advanced systems in the
world”.
Mr. Mian Shakeel
Aslam, MD LSE said that “We are
pleased to work with NIFT to secure and authenticate
submission of financial data by its members to
the major bourse of the country. NIFT is the institution
trusted by financial institutions and is the Certificate
Authority in Pakistan.
Use of digital certificates by our members will
bring confidence in the system by the shareholders
of the companies.” see
in pictures... |
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| KSE
& NIFT sign data transmission accord |
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 NIFT
and KSE signed an agreement for authentic email
communication for KSE customers, using managed
PKI technology.
NIFT shall provide managed Public Key Infrastructure
(PKI) Services and Certificate Authority (CA/RA)
system for issuing digital certificates allowing
Listed Companies to securely send information
through email to KSE. The initial project shall
be applicable for KSE-100 Index, KSE-30
Index and KMI-30 Index companies. Subsequently
this facilitation will be extended to all listed
companies
Karachi Stock Exchang-Managing Director Adnan
Afridi signed the agreement, adding, that companies
were dispatching their short accounts to KSE to
date due to non-availability of required technology.
Now with the adoption of PKI, the companies will
be able to electronically submit their balance
sheet, as soon as audited accounts are adopted
by AGM, to the major bourse of the country. |
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| NIFT,
Citi Bank and Utility Payment Processing go together
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 NIFT
signed agreement with Citi Bank for processing
of utility payments of PTCL, KESC and KWSB.
Mr. Arif Usmani, Managing Director, Citi bank
of Pakistan and Mr. M M Khan, Chief Executive
NIFT signed the agreement. |
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| SECP
has reduced filing fee for online process
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The Securities
and Exchange Commission of Pakistan (SECP) has
introduced online company registration in order
to promote a hassle-free and
paperless system.
SECP has issued an SRO 119 (I)/2009
for company’s registration fee for submission
of documents both online and physically. In
order to promote a paperless system, the SECP
has fixed about half of the registration fee
for online process in every category.
The SECP notified registration fee of Rs2,500
for online submission of documents for a company
with nominal share capital up to Rs100,000.
In case the nominal share capital crosses Rs100,000,
Rs100 to Rs500 would be added to the fee. more...
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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 FBR has launched this new innovative service
which would allow users of FBR 'internet portal'
to pay taxes electronically through Direct Debit
Facility. Salient features of the scheme revealed
that it would be available to taxpayers, who are
using FBR e-portal.
Sources said that the FBR 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, NIFTeTRUST.
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. |
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Opening of New Clearing Centers
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NIFT proudly announces
opening of its new clearing centres in Sahiwal
and Sargodha extending its coverage to 185 cities
through 20 data centers in major cities of Pakistan
namely:
Karachi, Lahore, Islamabad,
Rawalpindi, Multan, Faisalabad, Peshawar, Quetta,
Hyderabad, Gujranwala, Sialkot, Bahawalpur, D.I.Khan,
Sukkur, Abbottabad, Muzaffarabad, Jhelum, Mirpur,
Sahiwal and Sargodha.
Now NIFT has completed its Nation-wide
Clearing Grid. |
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SECP, NIFT sign pact for e-Services
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The Security and
Exchange Commission of Pakistan (SECP)
and National Institutional Facilitation Technologies
(NIFT) signed an agreement for
25000 Digital Certificates 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 |
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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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