ISLAMABAD: The National Bank of Pakistan (NBP) president has acknowledged problems in its ATM operations, but blamed it on the obsolete IT system which he hoped would be upgraded by July.
“There are many complaints related to faulty ATM transactions and transfers. We detected the flaw in December 2014,” said Muhammad Iqbal Ashraf, CEO and President of NBP. “But there is not much that can be done immediately because of the regulatory requirements under the PPRA (Public Procurement Regulatory Authority) rules.”
Mr Ashraf was talking to the media after the bank’s agreement with Mobicash for the disbursements of cash among the NBP clients in remote and unbanked areas.
The agents and dealers of Mobilink, who also deal with Mobicash, would also be making certain collections on behalf of NBP.
“If we were a private bank, the solutions would have been in place by now. But for a public sector entity the speedy decisions can bring troubles,” he said.
He said the bank had around 50 new products in line but they are also subject to improvement in IT system.