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The group photo of unveiling of new logo and brand identity of The easypaisa Bank Limited on January 28, 2025. — LinkedIn@telenormicrofinancebanklimited
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KARACHI: The State Bank of Pakistan (SBP) has given the first digital retail bank (DRB) license to the Eztepesa Bank Limited (former Telenor Microfinance Bank Limited), which allows it to launch trade operations. Is
SBP said, “Easypaisa Bank Limited is expected to promote innovation from the DRB license, increase financial inclusion and ensure the availability of accessible and cheap digital financial services.”
Providing a keynote address at a licensing event, Governor SBP Jamil Ahmed made a key role in creating the environment for digital banking in Pakistan and promoting the establishment of digital banks through a systematic license process. Added.
He urged the Ezaypesa Bank to draw the digital change of small and medium -sized businesses (SMEs) in Pakistan, to inspire their sponsor, ant groups.
Ahmed also highlighted the significant importance of acquisition of a licensing milestone and the customer focused solutions to digital banks in accordance with the needs of individuals, micro, small and medium -sized businesses (MSME) and other lower classes. Encouraged to innovate and design. He emphasized that this focus would play an important role in promoting financial inclusion and advancing economic growth.
He emphasized the importance of tackling challenges associated with rapid technological development. He highlighted two important areas of consumer digital literacy and highlighted cyber security measures to protect customer confidence and ensure the integrity of the financial system. Ahmed also expressed his confidence that, with the issuance of this license, the Espessa Bank would prioritize the development of modern, customer focus and cheap digital financial solutions, especially for the unsafe and unsafe sections of society. He emphasized that such efforts would play an important role in pursuing financial inclusion and digitalization goals.
In January 2023, the SBP did not issue any objection certificate (NOCS) to five successful applicants: Hugg Bank Limited, KT Bank Pakistan Limited, Mushrik Bank Pakistan Limited, Dance Islamic Digital Bank Limited and Espassa Bank Limited – The selection of these institutions was made after a rigorous diagnostic process that assessed key standards, including governance and fitness, industry skills, financial capacity, business strategy, implementation framework, funding. Plans, and IT and CyberScript Infrastructure.
In September 2023, these banks received principled approval for the preparation of operational preparations.
“To become Pakistan’s first digital bank to start trade operations, Pakistan’s first branchless mobile money transfer jumps a change in financial services, from which Ezaypesa transfer jumps, which is completely comprehensive to consumers. Access to a banking solution.
By eliminating the requirement of traditional branches, the bank represents an important sample shift in digital financial leakage and innovation.
50 million registered users who represent one in four Pakistani adults, a strong 31 % of female consumer base, and 2.7 billion transactions in 2024 have been processed with Rs 9.5 trillion (Pakistan’s GDP About 9.0 %), Ezaypesa has established itself as A. Important players in the country’s financial ecosystem.
According to the bank, millions of Pakistanis are ready to provide a strong, safe and smooth digital banking experience. Being a leader in Best in Class Digital Financial Solution, the bank is introducing a lot of products that are first in Pakistan, such as digital term deposit and digital lending options available on the phone, as well as many modern services. Along with modern services, modern services digital current and savings accounts, digital welfare management tools, international remittances, credit and debit cards – all digitally accessible. The purpose of these ground offerings is to expand access to easy digital banking services for broader audiences.
Irfan Wahab Khan, Board Chair of Eztepisa Digital Bank, said, “Given ahead, we have a meaningful impact on Pakistan’s digital economy, pursuing financial inclusion, and stealing digital financial services to empower millions of Pakistanis. Found up. “
Douglas Fagin, director of the Board of the Digital Bank, the President of ANT International and senior vice president of the ANT group, said: “The evolution of Ezaypesa in a digital bank is an important milestone in the landscape of Pakistan’s financial services. .
Jehanzeb Khan, CEO and President of the Eztepisa Digital Bank, added: “Our commitment is irrelevant, so that the new digital financial solution that renews banking in Pakistan continues.”
