SBP to launch new initiative 'Asaan Mobile Account' on Monday

Karachi: The State Bank of Pakistan will launch a new initiative, Asaan Mobile Account (AMA) on Monday.

According to the central bank press release issued on Sunday, the bank said that the initiative has been developed under the National Financial Inclusion Strategy aimed at facilitating the customers for remote account opening under branchless banking.

Through Asaan Mobile Account initiative, the customers would be able to open and operate their accounts from the comfort of their homes, SBP said.

 The solution has been developed through the 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 an account with a bank.

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