The issuance of branchless banking regulations in 2008 was an outcome of SBP’s vision and strategy to develop a road map for financial inclusion through the use of mobile phone banking.
With these regulations, SBP enabled a diverse set of players including banks, microfinance banks, mobile network operators (MNOs), retailers, and technology firms to develop partnerships and business models, while safeguarding stability of the banking and payment system, and interest of customers. In accordance with these objectives, SBP allowed only the bank-led model for undertaking branchless banking.