It is heartening to note that State Bank of Pakistan (SBP) has launched its Asaan Mobile Account (AMA) with the key support of various stakeholders including PTA, Nadra, Branchless Banking (BB) Providers, Cellular Mobile Operators (CMOs) and Virtual Remittance Gateway (VRG). The VRG has been licensed jointly by the SBP and PTA under the regulations for mobile banking interoperability.
It is a digital wallet that enables individuals to perform a wide-range of transactions using a simple mobile phone. No doubt, this is a historic development in the entire banking industry of the country. All those involved behind the launch of AMA deserve a lot of praise. It is quite clear that the SBP in particular is trying to concentrate on the big picture. It has already earned a lot of praise for its role that it has successfully played in efforts aimed at protecting people’s lives and livelihoods in the midst of Covid-19.
Naheed Abbasi (Karachi)
Copyright Business Recorder, 2021