LAHORE  -  The National Bank of Pakistan (NBP) has signed two Memorandum of Understandings with Mobi Direct enabling the bank to become consortium member and settlement bank and using Mobi Direct’s digital products.

NBP President Saeed Ahmad said that he is very optimistic about this initiative and said that this arrangement will go a long way in fulfilling aspirations and expectations of NBP customers and account holders and will help the bank in rolling out various digital products and services in future through this arrangement.

He emphasized upon achieving complete E-governance through this initiative which is the key to success for all types of businesses. The NBP is assisting all the provincial governments in digitalising their various payments, fee and taxes collection systems.

He mentioned that the NBP has already signed MoUs and agreements with various provincial and federal departments for digitally colleting their fee and payments including Directorate General of Immigration & Passports, Bureau of Emigration and Overseas Employment, Public Service Commission KP, Islamabad Traffic Police, Driving License Sindh and Dealer Vehicle Registration System (DVRS) and collection of e-Tax in Punjab.

Saeed further stated that after signing these arrangements, the NBP will be able to use Mobi Direct payment processing and transactions switching infrastructure, online payment gateway and shared agent network for promoting nationwide branchless banking and digital payments services to provide real growth to unbanked segment of population. National Bank of Pakistan will act as a “Settlement bank” for Mobi Direct’s digital payment system and for all of Mobi Direct’s consortium members and stake holders. NBP is playing a major role in enhancing the financial inclusion by aligning with digital banking revolutions in Pakistan. NBP is in process of developing systems for digitization of all G2P & P2G payments.

Saeed highlighted that NBP is actively working to digitalise its banking services built on a collaborative model with Telcos and other stakeholders. This will help in promoting Alternate Delivery Channels and enabling the right environment for inclusive growth and achieve the goal of financial inclusion, Saeed said.  He emphasized that it will also help in formalizing the undocumented economy and help in achieving better economic growth.