Plastic Money
Plastic Money
INTRODUCTION
After the year 2000, financial sector had greatly
reformed as a result of privatization of banks and the
restructuring of financial institutions in Pakistan. Large
number of private investors targeted banking sectors
for investment. According to the Economic Survey of
Pakistan 2012, the financial and insurance sector has
seen a growth of 15% despite the fact that interest rate
spread remained highly variable in recent years. Flow of
Foreign Direct Investment is also towards banking
sectors in Pakistan. As a result large number of new
banks have been established in the last three/four
years. Thus Pakistan's banking sector has robustly
engaged in consumer financing by offering a variety of
products, services and packages to the consumers. Now