The Branchless Banking Regulations were introduced in 2008, clearing the way for development of branchless and mobile phone banking services in Pakistan. The retail network of banks has overwhelmingly multiplied due to agents and mobile phone channels. In less than three years, there are now 18,000 branchless banking outlets, augmenting and surpassing the 10,000+ conventional bank branches.
We expect to propose rules under HOEPA later this year. Community affairs and consumer education roles The Federal Reserve also looks beyond its supervisory and regulatory functions to address concerns of information asymmetries and access to financial services in local markets.