Mobile commerce is driving force in banking sector: Chairman PTA

KARACHI: Chairman, Pakistan Telecommunication Authority Dr. Syed Ismail Shah has said that mobile commerce has become a driving force in banking sector and assuming absolute relevance with every passing day.

Speaking as chief guest at the inaugural session of Third Annual Mobile Commerce, Digital Banking Summit and Exhibition organized by The Professional Network (TPN) in collaboration with a local media group, PTA, SBP and IBA-CED of Karachi, he said there was need for concerted efforts to bring all stakeholders at a single platform.

Dr. Shah on the occasion also emphasized that such events were very effective for promotion of business activities across the country.

Later talking to media persons, Dr. Syed Ismail Shah said that use of mobile technology in banking sector was increasing tremendously and was a good sign for the economy.

He said Pakistan was among the leading internet/mobile users country and the growth in e-commerce business is attracting the global players to invest in Pakistan.

“The foreign direct investment in this sector is playing a key role in country’s economy,” said the PTA Chief.

Irfan Wahab Khan, CEO Telenor Pakistan addressing the session said 61% of Pakistanis use some form of informal credit channel to cater for short-term financing needs.

Financing gap in the micro-finance industry is estimated at PKR 990 billion, he said mentioning that with the success of Easypaisa, Telenor Bank intends to enhance financial inclusion by offering advanced banking products such as digital loans.

Founder and CEO of TPN, Mehmood Tareen; Founder and Coach at Planet N Group Nadeem Hussain, Executive Director SBP Syed Irfan Ali, CEO Coastals Ateeq Ur Rehman; COO U-Microfinace Bank Kabeer Naqvi;

Head of FSI Business Huawei Pakistan Shan Xiaoping, Group Executive Director Telenor Bank Omar Moeen Malik and others also spoke on the occasion.