State Bank of Pakistan launches simplified digital account

Photo: SBP/Abbas Ali Khan

The State Bank of Pakistan unveiled a new digital account on March 7, which it hopes will boost financial inclusion, particularly among women.

Governor Reza Baqir said the Asaan Digital Account will “break the barriers” of financial inclusion by offering fast, cheap and efficient banking services. “Asaan” means ‘easy’ or ‘convenient’ in Urdu.

The account avoids many of the know-your-customer checks that can exclude poorer people from traditional financial services. Instead, it requires only a

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