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SBP “Asaan Mobile Account” for Branchless Banking Services

According to the most recent reports, the State Bank of Pakistan (SBP) introduced the Asaan Mobile Account (AMA) in Karachi on Monday in order to provide branchless banking services to low-income individuals who lack access to the internet and cell phones.

According to SBP Governor Dr. Reza Baqir, the Asaan Mobile Account will provide 50 million Pakistanis with convenient digital banking services. He argued that banking services would not require internet and cellphones.

The accounts can be opened quickly by dialing the Unstructured Supplemental Service Data (USSD) Code ‘*2262#’ from any mobile device or network.

In addition, it was stated that the public would be able to select from thirteen branchless baking service providers. This facility will also assist Pakistani women who previously had difficulty gaining access to financial services. This program will also play a significant part in accomplishing the National Financial Inclusion Strategy’s (NFIS) objective of promoting digital financial inclusion.

Read: Benefits of Exercise and Physical Activity

This program will aid the government’s efforts to create a digital Pakistan. This initiative can also be used to disburse funds for the Ehsaas Program.

According to our sources, the initiative was launched in collaboration with the Pakistan Telecommunication Authority (PTA), the National Data Registration Authority, the Virtual Remittance Gateway, cellular mobile operators, and branchless banking service providers.

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