National
Financial Inclusion Council (NFIC), Wednesday, approved the Asaan Mobile
Account (AMA) scheme. This would help build ecosystem of digital financial
services in the country.
NFIC met here with Finance Minister Ishaq Dar in the chair and was briefed by Governor State Bank of Pakistan (SBP) about the substantial efforts and deliberations made by the NFIS stakeholders in the development of a scheme for promotion of Digital Transaction Accounts (DTAs).
While sharing the features and components of the DTA Scheme, Deputy Governor Mr. Saeed Ahmad informed that after consulting with branchless banking players the scheme has 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 etc. 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.
Finance Minister in his opening remarks said that Implementation of National Financial Inclusion Strategy (NFIS) was Government’s foremost priority, as we were cognizant of the fact that access to easy & affordable financial services had a strong nexus with equitable economic growth and financial stability.
He highlighted that NFIS stakeholders have shown strong commitment to collaborate, review and advance policy reforms to address the future challenges. Finance Minister emphasized on the need for enhanced coordination and ownership of concerned stakeholders to provide further impetus to achieving the goals under NFIS.
Meeting was attended by 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.
In a separate meeting Finance Minister Senator Ishaq Dar and SBP Governor Ashraf Mahmood Wathra reviewed the new technological trends and reform initiatives in banking/financial sector.
Governor State Bank Ashraf Mehmood Wathra updated the Finance Minister regarding the new technological trends and reform initiatives in hand in the Banking sector of Pakistan. He briefed him that technological advances are quickly changing the face of the Pakistani banking industry.
The Finance Minister was apprised on the recent development in private sector credit and agriculture sector growth automation in currency distribution by Central and commercial Banks.
NFIC met here with Finance Minister Ishaq Dar in the chair and was briefed by Governor State Bank of Pakistan (SBP) about the substantial efforts and deliberations made by the NFIS stakeholders in the development of a scheme for promotion of Digital Transaction Accounts (DTAs).
While sharing the features and components of the DTA Scheme, Deputy Governor Mr. Saeed Ahmad informed that after consulting with branchless banking players the scheme has 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 etc. 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.
Finance Minister in his opening remarks said that Implementation of National Financial Inclusion Strategy (NFIS) was Government’s foremost priority, as we were cognizant of the fact that access to easy & affordable financial services had a strong nexus with equitable economic growth and financial stability.
He highlighted that NFIS stakeholders have shown strong commitment to collaborate, review and advance policy reforms to address the future challenges. Finance Minister emphasized on the need for enhanced coordination and ownership of concerned stakeholders to provide further impetus to achieving the goals under NFIS.
Meeting was attended by 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.
In a separate meeting Finance Minister Senator Ishaq Dar and SBP Governor Ashraf Mahmood Wathra reviewed the new technological trends and reform initiatives in banking/financial sector.
Governor State Bank Ashraf Mehmood Wathra updated the Finance Minister regarding the new technological trends and reform initiatives in hand in the Banking sector of Pakistan. He briefed him that technological advances are quickly changing the face of the Pakistani banking industry.
The Finance Minister was apprised on the recent development in private sector credit and agriculture sector growth automation in currency distribution by Central and commercial Banks.
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