The State Bank of Pakistan (SBP) to issue and implement a formal communication policy during this fiscal year (FY17) to create awareness about the SBP role in policy making. In line with strategic objectives, the SBP has adopted a multi-dimensional approach to strengthen communications and external relations to ensure that the intent and objectives of all policy, regulatory, supervisory and developmental initiatives are clearly understood by the concerned stakeholders including media.
SBP in its recent annual report revealed that under the strategic objectives, the first component was development of a formal communication policy to improve understanding and confidence of public about the SBP role in economic management and policy making. The communication policy has already been developed during the last fiscal year (FY16) and now being reviewed internally and will be issued and implemented during FY17.
The second important component of the strategy was the revamping of SBP website, which was successfully completed during the year with the launch of revamped website on 14th August, 2016. Moreover, the SBP is also working on the development of an Urdu version of the website and it has largely completed during the last fiscal year and to be launched in FY17.
Improving presence on social media particularly on twitter was also part of the strategy, the twitter account was accordingly opened and being used frequently to disseminate SBP initiatives and decisions. The SBP established its official twitter account in July-2015. This is primarily aimed at informing journalists and general public about any information/data dissemination through SBP''s website.
SBP also conducted awareness campaign for obtaining fresh currency notes through SMS facility, for ATM users and on list of unclaimed deposits. In addition, financial inclusion and SME financing initiatives awareness campaign, subsidised financing facility for storage of agricultural produce, and business with unauthorised Money Changers awareness campaign was carried out during the previous year.