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Last update: Thu, 19 Jan 2017 07am
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Implementation of NFIS govt’s top priority: Dar

imageISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar Wednesday said the implementation of National Financial Inclusion Strategy (NFIS) was government's foremost priority.

"We are cognizant of the fact that access to easy and affordable financial services has a strong nexus with equitable economic growth and financial stability", he said while chairing the 4th meeting of the NFIS here.

He highlighted that the NFIS stakeholders had shown strong commitment to collaborate, review and advance policy reforms to address the future challenges.

The minister emphasized on the need for enhanced coordination and ownership of concerned stakeholders to provide further impetus to achieving the goals under the NFIS.

Governor State Bank of Pakistan (SBP) Ashraf Mahmood Wathra and Chairman of NFIS Steering Committee briefed the council about the substantial efforts and deliberations made by the NFIS stakeholders in the development of a scheme for promotion of Digital Transaction Accounts (DTAs).

This would help build ecosystem of digital financial services in the country.

While sharing the features and components of the DTA Scheme, Deputy Governor Saeed Ahmad informed that after consulting with branchless banking players the scheme had been named as Asaan Mobile Account (AMA).

He also shared the roles and responsibilities of the key stakeholders including SBP, PTA, NADRA, Branchless Banking Providers, Telcos and others for successful implementation of the scheme.

Further, he updated the council on the key developments made with respect to its earlier recommendations on NADRA's verification cost and taxation structure for branchless banking operations. The council after detailed discussions approved the scheme.

The meeting was attended by the NFIS council members including Governor SBP, Secretary Finance, Secretary EAD, Chairman SECP, Chairman FBR, Chairman NADRA, and representatives from Provincial Finance Departments, PTA and ICT and senior officials of the Finance Division and SBP attended the meeting.

Copyright APP (Associated Press of Pakistan), 2017