Payment Systems and Electronic Fund Transfers Act

Pakistan

(enacted in 2007)

The Payment Systems and Electronic Fund Transfers Act provides a regulatory framework for payment systems and electronic fund transfers in Pakistan. The act includes the following chapters:

  • Chapter I Preliminary;
  • Chapter II Payment Systems and Their Operation;
  • Chapter III Payment Instruments;
  • Chapter IV Clearing and Other Obligations;
  • Chapter V Supervisory Control of the State Bank;
  • Chapter VI Documentation of Transfers;
  • Chapter VII Notification of Error;
  • Chapter VIII Liability of Parties;
  • Chapter IX Action Before the Court; and
  • Chapter X Miscellaneous.