PTA and GSMA hold workshop on Mobile Money
Branchless banking is a modern facility which will have positive impact on the GDP growth of the country and will be beneficial for people of Pakistan as well. The consumers will have the most attractive benefits of keeping bank account in their pocket with advantages like low cost and fast transfers etc.
This was stated by Chairman PTA Dr. Syed Ismail Shah at a workshop organized by Pakistan Telecommunications Authority (PTA) in collaboration with GSMA on Mobile Money here at PTA Headquarters. Senior officials of the commercial banks, representatives from State Bank of Pakistan and officials from telecom sector attended the workshop. The objectives of this workshop were to bring global and local insights from the branchless banking industry. He said that Pakistan is fast moving towards mobile money which facilitates not only urban class but also rural population. He said that mobile banking is a value addition and has utmost consumer convenience wherein users can avail banking facilities through mobile communication. He said that advancements in telecom technologies have positively affected other sectors and innovative products have been introduced. Chairman PTA Dr. Syed Ismail Shah said that the mobile phone sector has shown an enormous growth, thus creating striking opportunities for service providers and consumers to utilize mobile networks for carrying out various daily life tasks such as financial transactions. He said that Pakistan has now moved in the era of broadband. By the end of February 2016, there are 29.8 million broadband users that makes broadband teledensity 15% and it has great potential for broadband proliferation.