9,000 ATMs not enough for Pakistan: Deputy Governer SBP

24th April 2015

 
 

The Deputy Governor of State Bank of Pakistan (SBP) has voiced his concern over the growing demand for ATMs in the country and urged the banking sector to increase the number beyond the existing 9,000 ATMs deployed in the country. Speaking at the 13th International E-Banking conference in Karachi, Riaz Riazuddin, Deputy Governor SBP, pointed out that the existing 9,000 ATMs were insufficient to cater to the growing demand.

Presently, Pakistan maintains a ratio of 6.49 ATMs per 1,000 individuals – a figure considerably lower than the averages present globally. Its neighboring country, India boasts of 13.27 ATMs per 1,000 individuals and actively works towards increasing that figure. Pakistani banks are aiming towards increasing the ATM count by 500-600 new machines in 2015.

The E-Banking conference, organized by Total Communications in collaboration with 1-Link, further discussed the roles of POS machines in converting cash-based customers to plastic money users. HBL, hosting over 5,000 POS terminals nationwide was lauded for its efforts in creating the necessary disruption in consumer behavior towards payment digitization.

A special mention for Mr. Faisal Rahim – C.E.O of Total Communications, is necessary; it is his efforts that bring the senior management of the banking sector, supporting vendors and central bank under one roof to discuss the most pertinent issues in Pakistan’s banking industry. The annual E-Banking conference has always played a critical role in highlighting the challenges faced by the banking consumers, and further helped in proposing innovative and efficient solutions for the upcoming periods.

 

 
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