Pakistan has to implements the idea of international money accounts with simplicity and not forcing people to lock down currency in particular local unit i.e Rupee etc
a) Chinese currency
b) Russian
c) Dollar (Debt ridden country avoid)
d) Pound
f) Gold
And let people decide what currency they want to keep their savings invested in
As more foreign currency or gold/silver assets develop locally in banks the power of Pakistani banks will rise exponentially too allow for local micro financing for business and credt
- More money for Banks means , they lend out more money to small business and consumers
- They invest the money wisely to make more money from existing money
- More money Pakistani banks have the more money gets invested in Pakistan/Chinese stock exchange by Bank managers
The whole cycle of investment is driven by simple formula ,
how many people are opening and saving in a Pakistani Bank !!
All world banks are run on that Principle , Users deposit their money in their Bank Accounts
some % goes into investment accounts. Banks use the BIG POOL of money for Growth investmemt project which return
10x or
100x profits and then that profit is given back to people who invested
Example
Bank 1 : Has total Bank accounts with total value of 20 Million USD , but in Pakistani rupee
People are reluctant to save in Rupee and the 20 million profile is not worth much
Pool of money avilable with Bank 1: 20,000,000 USD (Tiny drop of money)
Bank 2: Has total Bank accounts with total value 5 Billion USD, they allow International
currency account and it allows people to hold international currency
Pool of money avilable with Bank 2: 5,000,000,000 USD
In this example Bank #2 will be able to Offer (Credit card, Loans , and business loans ) to local community. Also they would be able to invest in local and international stock exchange
To make more money. This is exactly what folks do in Financial hubs across western world.
Bank 2 will also be able to offer more jobs locally in cities
Banks create MONEY from Money
By the way isn't it funny behind every Anti Pakistan policy the name Nawaz sharif comes up
who again prevented the ability of Pakistanis to hold foreign currency bank accounts
