Central Banking

Pakistan forges ahead with mobile banking promotion


The State Bank of Pakistan on January 11 signed a memorandum of understanding (MoU) with the Pakistan Telecommunication Authority (PTA) to develop mobile banking in the country.

The central bank said the main objective of the agreement was "to develop an appropriate technological and regulatory framework through a consultative process to strengthen mobile banking with a view to supporting the provision of banking services" in the country.

The memorandum was signed in Karachi by Inayat Hussain

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