The State Bank of Pakistan (SBP) on Wednesday enhanced transaction limits for Assan accounts to further expand outreach of low risk accounts. As per the new limits for Assan Account, total debit per month shall be Rs1 million and total credit balance limit has also been increased to Rs1 million. Previously this limit was Rs500,000.
The SBP while referring to BPRD Circular No. 11 of 2015 and BPRD Circular Letter No. 32 of 2017 regarding the captioned subject, wherein accounts namely Asaan Account and Asaan Remittance Account were introduced to extend benefits of financial services to unbanked/ under-banked segments of population.
The SBP has been actively pursuing the goal of financial inclusion in the country by expanding the outreach of banking services to all segments of society especially to the unbanked or under banked population. The strategy helps to increase documentation of the economy, create saving habits among the masses for returns/profits on their savings and generates opportunities to access credit and insurance facilities through the formal financial sector.—TLTP
