KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Monday launched the Asaan Mobile Account (AMA), which allows opening of a branchless banking account on a mobile phone, a statement said. Speaking on the occasion, Dr Baqir thanked the stakeholders for their contributions that culminated into the successful launch of the AMA initiative. He said that AMA is expected to bring a significant increase in bank accounts opening and the lack of internet access or proximity to branchless banking outlets/bank branches would no longer be barriers for Pakistanis to access financial services. He said that the AMA would play an important role in enhancing digital access and use of formal financial services in the country, adding that Pakistan has over 187 million biometrically verified mobile subscribers with the teledensity of around 85 percent.
