Digital solutions will help to improve 1billion lives: Queen Máxima

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Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) delivered a talk at the World Economic Forum (WEF) Davos Meeting about digital inclusion, To quote,“The EDISON Alliance can make a real difference. Its goal of improving 1 billion lives through digital solutions in health, finance, and education by 2025 is the call to action we need. Already, the public commitments from government and industry are very encouraging. So are the tools and products being created to make these commitments a reality”, unquote.

To quote Queen Maxima further, “One example is interoperable payment systems that work for the poor. Systems that support high numbers of small-value transactions are unlikely to be developed without government encouragement and support. But when they are, it is worth the investment. Pro-poor payment systems, such as those set up in Pakistan, exemplify this. They can increase competition between providers, drive down costs, allow infrastructure to be shared between competing firms, and open the financial system to potentially millions of new customers, “unquote.

Without mentioning VRG by name Queen Maxima is clearly taking about VRG because we are the only company in Pakistan fully operational duly Licenced both by SBP and PTA. AMA is meant to include the deprived not having bank accounts (80% of the adult population) in less than 2 minutes in any of the 16 digital banks We would like to mention here that because of VRG’s Asaan Mobile Account (AMA) initiative for financial inclusion (under licence from SBP and PTA), Pakistan is being considered in the second batch of LIGHTHOUSE countries of WEF’s prestigious EDISON ALLIANCE because of VRG.

This is a great example of a Public Private Partnership mentored under the aegis of SBP and PTA and is a great honour for Pakistan.

 

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