Circulars/Notifications - Banking Policy & Regulations Department  
 BPRD Circular No. 09 of 2017
December 22, 2017

The Presidents/Chief Executives
All Banks/Microfinance Banks

Dear Sir/Madam,

Branchless Banking Regulations for promotion of Home Remittances

            Please refer to BPRD Circular No. 09 dated July 12, 2016 on Branchless Banking Regulations for Financial Institutions.

2.         State Bank of Pakistan, with the objective to facilitate swift and cost effective inflow of Home Remittances through Branchless Banking (BB) channel and to increase the financial inclusion through enhanced usage in BB/mobile wallets; has decided to introduce a new category of Home Remittance Account under the ambit of Branchless Banking Regulations.

3.         In this regard, the framework for Branchless Banking Home Remittance Account (BB-HRA) containing the objective, applicability, eligibility, due diligence requirements, incentive mechanism and consumer protection is attached as Annexure “A”. The branchless banking providers are advised to upgrade their systems, controls and procedures to incorporate the requirements laid down for the Branchless Banking Home Remittances Accounts within one month of the date of issuance of this Circular.

4.         Further, the banks and microfinance banks are advised to ensure compliance with these instructions as non-compliance shall be dealt with, in accordance with the relevant provisions of law.

5.         Please acknowledge receipt.

Encl: Annexure “A”


Yours truly,


(Muhammad Akhtar Javed)
Head of Department

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