KARACHI(PAKISTAN)
The improved services for innovative financial inclusion is essential for survival and prosperity of poor masses in the country, Yaseen Anwar, said Governor State Bank of Pakistan (SBP).
Speaking as chief guest at Mobile Commerce Conference held here on Thursday, he said that SBP sees mobile commerce as a great opportunity for multiple stakeholders in Pakistan.
The innovative branchless banking models have been penetrating in all areas of payments such as utility bills, Government‐to‐Persons (G2P), Persons‐to‐Persons (P2P) payments while scaling up other services relating to deposits and loans.
PTA & SBP have signed an MoU to create interoperability between telecom operators and banks for the growth & expansion of mobile commerce, says Governor.
Branchless banking accounts have increased to over 929,000 – touching a million soon.
Nadeem Husain CEO of Tameer Bank Pakistan will become the world leader in branchless banking in three years with different innovative products and its utility among the customers.
He stressed to cash in on the great opportunity & the need for branchless banking in Pakistan. Almost Rs 1.6 trillion rupees is swirling out from banking system and it needs to create value to bring it all into the system.
SBP is leader in the field of branchless banking and it is doing a great job, says Nadeem Husain.
Atif Bajwa, Chairman Bank Alflah said that 25% of overall cash is not being used properly but a tremendous economic activity will be generated by bringing into the banking sector.
The bankers should leave their egos behind and join hands to take the mobile banking industry forward. The cash management is not about managing physical cash but changing it into a cashless model.
The utility bills, air tickets, fines, fuel, rail tickets – can all be paid for by using mobile phones including transfer of funds. The real big tickets on mobile commerce will come from mobile services for trade. Atif Bajwa added.