KARACHI: The State Bank of Pakistan (SBP) banned online payments for Indian content on the directives of the Cabinet Division, a statement from the central bank said.
The SBP has directed banks, electronic money institutions, payment system operators and payment system providers to block payments for subscribing Indian content in Pakistan, including Zee5 video-on-demand service, reads the SBP statement.
“We are in receipt of a letter from the Cabinet Division, Government of Pakistan; whereby, they’ve instructed to stop different modes of payments, such as credit cards for subscribing Indian content in Pakistan, including Zee5 video-on-demand service,” the SBP’s Payment System Department (PSD) said in a circular issued to the heads of the banks and payment system providers.
“In this regard, it is advised to ensure meticulous compliance of aforementioned instructions of the government of Pakistan and submit compliance status to PSD, SBP by November 13.”
Zee5 is India’s own digital entertainment platform, which offers an-over-the-top (OTT) platform for streaming shows and movies ranging from Bollywood to regional cinema.
