Despite these hefty numbers, the results have been mixed, as according to SBP, financial inclusion has increased by only three percent between 2008 and 2015, although branchless
banking did help reduce reliance on informal services by almost doubling the number of customers using formal means.
Along with the recent 14 branchless
service centers, the total number of such centers has reached 97 nationwide, according to the Bank.
The agreement was signed at a ceremony recently held in Islamabad which was attended by Khurram Malik, Head of Branchless
Banking, Telenor Microfinance Bank and Shahzad Jamal, GM North, Careem Pakistan along with representatives from both the organizations.
Catering to some 6 Million people, this collaboration will provide state-of-the-art, convenient and secure branchless
banking services to individuals in far flung areas.
The scope of alternate delivery channels and technologies has been expanded to include 3G and 4G spectrum for providing branchless
About 10 million accounts were added in the second half of 2017 and branchless
banking transactions in Pakistan reached PKR21bn.
However, a July 12, 2016 circular of SBP regarding branchless
banking regulations for financial institutions only binds the banks to implement the AML and CFT regulations.
Rubina Tayyab, Director General, Pakistan Post said, "Financial Inclusion is the demand of modern postal users and Pakistan Post has joined hands with UBL to provide branchless
banking services to the masses across the country."
Rubina Tayyab, Director General of Pakistan Post said 'Financial Inclusion is the demand of the modern postal users and Pakistan Post join hands with UBL to provide branchless
banking services to the masses across the country'.
KARACHI -- Figures released by State Bank of Pakistan (SBP) for branchless
banking transactions during July-September quarter of FY 2017-18 had fallen 1.47 percent in volume and 2.67 percent in value compared to April-June 2017 quarter.
KARACHI -- EFU Life Assurance Ltd and JS Bank Ltd have entered into an agreement to offer a range of insurance products to J Cash Branchless
On the other hand, Jazzcash, the branchless
banking service from Jazz, has overrun Easypaisa and other similar services for active branchless
banking accounts, said a recently issued report from the State Bank of Pakistan.
Karachi: State Bank of Pakistan (SBP) has issued the Framework for Branchless
Banking Agent Acquisition and Management for the banks and microfinance banks.
banking service Mobicash is gaining popularity in Pakistan and sensing this, NADRA Technologies Limited (NTL) has signed an agreement to launch this service on NADRA e-Sahulat platform.