- The Asaan Mobile Account will help women across Pakistan open their digital accounts in just 2 minutes without a smartphone or internet!
According to stats from Nekkei Asia, only 13% of women in Pakistan own bank accounts, making it the fourth-lowest proportion in the world.
Considering how we live in a digital era where most of our everyday routine revolves around the internet, it has become more than necessary to adapt to the continuously changing landscape to survive.
Bank accounts are considered basic digital identities and necessities, if a woman does not have an account, it means she is being cut off from a large portion of the world. However, understanding and noticing this problem, the State Bank of Pakistan in partnership with Pakistan Telecom Authority, has introduced the Asaan Mobile Account (AMA).
What is Asaan Mobile Account?
The Asaan Mobile Account will help women across Pakistan open their digital accounts in just 2 minutes, and the best part is that they do not require a smartphone to operate it. Launched as part of the National Financial Inclusion Strategy (NFIS), the AMA platform seeks to enable the broader population, particularly those in low-income segments, to digitally open their BB accounts and access financial services quickly, easily, and affordably.
How Does Asaan Mobile Account Work?
Using the Asaan Mobile Account (AMA) platform, any Pakistani with a valid CNIC can digitally open a bank account with any participating AMA bank. This can be done from any location and at any time, simply by using the SIM card of any mobile operator. The system enables individuals to access the AMA platform through a short code (*2262#) and conduct transactions on their basic or smart mobile phones without requiring internet connectivity.
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Pros of AMA for Pakistani Women
- Accessibility: Enables women to access banking services easily without the need for a smartphone or internet connection.
- Inclusivity: Provides financial inclusion by allowing women with basic mobile phones to open and manage a bank account.
- Simplicity: The streamlined process ensures that the account setup and management are straightforward, reducing barriers for women.
- Time Efficiency: The quick account opening procedure takes only 2 minutes, saving time for busy women who may have limited availability.
- Widespread Availability: With the capability to use any mobile operator’s SIM card, the AMA platform is widely accessible across the country.
- Cost-Effective: Eliminates the need for a smartphone and internet, making it a cost-effective solution for women in low-income segments.
- Empowerment: Facilitates financial independence by providing women with a convenient tool to manage their finances efficiently.
- Security: The platform ensures secure transactions, fostering confidence among women in using digital banking services.
- Compliance: Aligns with regulatory standards and the National Financial Inclusion Strategy, ensuring a reliable and compliant banking experience.
- Convenience: The use of a short code (*2262#) makes it convenient for women to perform transactions without the necessity of navigating complex menus.
Services Provided by AMA
AMA provides multiple services to Pakistani women, including:
- Balance Inquiry
- Mini Statement
- Money Transfer
- Bill Payment
- Change Account PIN
- Account Linking
- Account Closure
How to Open an AMA Account?
To open an account, you will have to follow the following steps:
- Dial *2262#
- Select ‘Register for Asaan Mobile Account’
- Select Preferred Bank
- Enter CNIC Number
- Enter CNIC Issuance Date
- Provide Consent & Accept T&Cs
- Generate PIN
- Validate PIN
- Receive Confirmation SMS
If you need further help understanding how to open an account, watch the video below:
Bank Options for Asaan Mobile Account
Currently, there are 13 branchless banking (BB) provider banks available on AMA platform. Customers can open bank accounts instantaneously in any of the given bank and conduct transactions available on the AMA Platform.