Saturday, September 24, 2022
HomeGeneralAsaan Mobile Account to be Launched by SBP

Asaan Mobile Account to be Launched by SBP

On Monday, December 13, 2021, the State Bank of Pakistan (SBP) will introduce a new project called Asaan Mobile Account (AMA). The project was created as part of the National Financial Inclusion Strategy with the goal of making remote account opening easier through branchless banking. Customers will be able to open and manage their accounts with any of the participating branchless banking providers from the convenience of their own homes, without having to visit a branch.

Also read: SBP Governor Dr. Reza Baqir has been named Chairman of the Islamic Financial Services Board’s Council

The solution has been developed through collaboration of SBP, Pakistan Telecommunication Authority (PTA), National Database and Registration Authority (NADRA), 13 Branchless Banking (BB) Providers, all Cellular Mobile Operators (CMOs) and Virtual Remittance Gateway (VRG). For AMA, the branchless banking providers and cellular mobile operators are collaborating to deliver an interoperable platform, allowing any Pakistani to open account with a bank.

AMA will play a crucial role in reaching out to the low-income segments that do not have access to internet. Moreover, AMA will be a perfect conduit to onboard women customer segments as well.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments