Islamabad
\nAs a service provider for the AMA scheme, initiated by the State Bank of Pakistan (SBP) and Pakistan Telecommunication Authority (PTA), The Pakistani Fintech Virtual Remittance Gateway (VRG) has played a crucial role in enabling individuals to open bank accounts and engage in digital transactions using basic mobile phones.
\nThis innovative scheme promotes financial access by providing a simple USSD code, *2262#, which allows anyone to open a bank account. With thirteen banks participating in AMA, the initiative not only facilitates banking services but also promotes women empowerment. As compared to conventional bank accounts where women are 18% of the total. In Asaan Mobile Account, women are 38% of the total. AMA paves the way for future digital payment services and financial products. VRG has been commended by the World Economic Forum (WEF) for its ground-breaking Asaan Mobile Account (AMA) platform.
\nIn recognition of this achievement, where just by dialing *2262# which only takes 90 seconds of a user, more than 7.9 million AMA accounts have been opened. Mr. Mirek Dusek, Managing Director of the World Economic Forum, expressed his enthusiasm, stating, \u201c Our Global Lighthouse network is redefining processes and environmental sustainability in factories around the world, The Edison Alliance is improving one billion lives through digital solutions in health, finance, and education; we are honored that Pathfinder group, through the Asaan Mobile Account scheme is now part of the alliance, and we look forward to working with them and other stakeholders in making Pakistan one of the lighthouse countries for financial inclusion.\u201d
\nAMA has revolutionized the process of opening bank accounts and access to financial services for the masses, by providing a seamless and paperless method using feature phones without the need for internet access or branch visits.
\nThe success of the AMA scheme has not only expanded access to banking services but has also fostered financial empowerment, particularly among women as more than 90% of women in Pakistan previously did not have bank accounts. By bridging the gap between traditional banking and the unbanked population, VRG\u2019s AMA has significantly contributed to enhancing financial literacy and stability in Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad As a service provider for the AMA scheme, initiated by the State Bank of Pakistan (SBP) and Pakistan Telecommunication Authority (PTA), The Pakistani Fintech Virtual Remittance Gateway (VRG) has played a crucial role in enabling individuals to open bank accounts and engage in digital transactions using basic mobile phones. This innovative scheme promotes financial […]<\/p>\n","protected":false},"author":2,"featured_media":335416,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-335542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n