We are focusing our energies to identify gaps and bring solutions to address those gaps. SBP is strengthening its regulatory oversight through measures such as regular diagnostic and inspections, compliance forum, and agent monitoring System. SBP has also formed the National Branchless Banking Consultative Group which draws representation from branchless banking industry players including banks, mobile operators, and technology service providers.
We must nonetheless consider whether our regulatory framework will still be suited to the financial industry of tomorrow. I have already mentioned the blurring of the boundaries between sectors, as new enterprises that often do not perform a business that requires a licence, but that play a major role in the system as a whole, join the market.