AMA: Easiest solution for branchless banking introduced in Pakistan
The State Bank of Pakistan (SBP) has introduced the easiest solution, Asaan Mobile Account (AMA), to customers for branchless banking.
KARACHI: Developed under the Financial Inclusion Strategy (NFIS), the State Bank of Pakistan (SBP) has introduced the easiest solution, Asaan Mobile Account (AMA), to customers for branchless banking.
Asaan Mobile Account (AMA) scheme will enable customers to open their bank accounts through Unstructured Supplementary Service Data (USSD) channels by using feature and non-feature phones. Moreover, they will not need an internet connection to avail of this facility.
A collaboration of the central bank, 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) has made it possible to provide the easiest solution to the branchless banking customers.
The SBP notification issued earlier stated that branchless banking providers and cellular mobile operators are collaborating to deliver an interoperable platform, allowing all Pakistanis to open accounts with a bank for AMA.
#SBP to launch a new initiative, #AsaanMobileAccount on 13Dec21 allowing opening and operating of an account with a branchless banking service provider with the help of a mobile phone from anywhere in Pakistan without the need of internet and visiting a bank branch. Stay tuned.
— SBP (@StateBank_Pak) December 12, 2021
The central bank said that the customers will be able to open and operate their accounts in the comfort of their homes, without having to visit the branches, with any of the participating branchless banking providers.
Through this step, the central bank aims to reach out to the low-income segments having no internet connection to avail branchless banking facility.
The Asaan Mobile Account (AMA) scheme will be launched by SBP today.
