The Presidents/Chief Executives,

All Banks including Islamic Banks and Microfinance Banks

Dear Sir/Madam,

BRANCHLESS BANKING REGULATIONS FOR FINANCIAL INSTITUTIONS

Branchless Banking represents a convenient alternative to conventional branch-based banking that allows financial institutions and other commercial players to offer financial services outside traditional bank premises by using delivery channels like retail agents, mobile phone etc. In view of encouraging innovation and increasing outreach of the banking system, the State Bank of Pakistan has decided to issue the enclosed Branchless Banking Regulations. These Regulations will be applicable to banks including Islamic banks and Microfinance banks (MFBs) with immediate effect.

Please acknowledge receipt.