SBP and PTA Join Hands to Promote Mobile Banking
The State Bank of Pakistan (SBP) and Pakistan Telecommunication Authority (PTA) have joind hands to setup a new framework for the promotion of mobile banking in Pakistan. A meeting held between Syed Salima Raza – Governor State Bank of Pakistan and Muhammad Yaseen – Chairman PTA, at SBP Karachi. Both the authorities agreed to setup a joint regulatory authority.
This committee will be composed of members, both from SBP and PTA, aiming to provide a framework for Third Party Solution Provider (TPSP) system. Additions to existing regulatory and a new setup of Mobile Banking would be the soul purpose of this committee.
The statement said,
We hope that this understanding will encourage innovative technological products which would ultimately enhance outreach of financial services in the country.
Mobile has become need of hour as in present era, as fruits of it cannot be denied where we can easily get our jobs done from a simple payment to utility bills payment, fund transfers, and remittances etc.
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