By Muhammad Soban

ISLAMABAD, Aug 17, (INP-WealthPK): The State Bank of Pakistan (SBP) has launched an awareness campaign to inform people about easy access to financial services through its Asaan Mobile Account initiative, WealthPK reports.

Assan Mobile Account (AMA) provides a simple, affordable and digital way to the unbanked segments to access financial services. The flagship initiative under the National Financial Inclusion Strategy was launched by SBP in collaboration with Pakistan Telecommunication Authority (PTA) and the UK’s Foreign, Commonwealth and Development Office (FCDO).

The mass media campaign, based on a user-centric approach, is expected to create awareness among people bout the ease of use and simplicity of opening AMA by simply dialing the USSD code *2262# from any mobile phone, smart or simple feature phone, through any mobile network, without the need for internet connectivity.

The customers may select their preferred bank from a list of branchless banking providers and access several banking services, including fund transfers, deposits, bill payments, mobile top-ups, balance inquiries.

The campaign, funded by the UK's FCDO, is of great importance, especially for women and low-income groups, who lack internet access and need a more straightforward way to access financial services.

The AMA scheme will serve as a perfect channel to onboard women customers due to their mobility and documentation difficulties. The scheme was introduced on December 13, 2021, with the critical support of the Pakistan Telecommunication Authority (PTA), which ensured the onboarding and integration of all cellular mobile operators (CMOs).

SBP has collaborated extensively with NADRA, Branchless Banking (BB) providers, CMOs, and Virtual Remittance Gateway (VRG) to execute the AMA scheme and reach out to every citizen to build a prosperous and digitally connected Pakistan.

More than 3.3 million accounts have been opened on the AMA platform, 6.1 million financial transactions worth Rs40.5 billion have been conducted and over 18.2 million non-financial transactions have taken place before the launch of the mass media campaign.

The SBP is confident that its nationwide mass media campaign, along with stakeholders’ commitment to collaborate, will be instrumental in spreading awareness and promoting digital financial services in the country, WealthPK has learnt.

Credit: Independent News Pakistan-WealthPk