Pakistan’s Muktadir lauds mobile payments transition

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Kazi Abdul Muktadir, the deputy governor of the State Bank of Pakistan, on October 16 said the surge in mobile phone and smart card banking in the country marked a "dynamic transition" for the financial sector.

The unbanked section of the country's population has registered more than 1.44 million ‘mobile wallet accounts' Muktadir said, speaking in Karachi. The accounts are one of the tools aimed at developing branchless banking in Pakistan and are run by Pakistan's two microfinance banks.

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