Regulations for Technical Implementation of Mobile Banking (Amendment), 2019 notified

Pakistan Telecommunication Authority (PTA) has notified "Regulations for Technical Implementation of Mobile Banking (Amendment), 2019." These regulations allow telecom operators, authorised financial institutions (AFIs) and third party service provider (TPSP) to enter the interconnect agreements to extend telecommunication services and systems to facilitate one another in provision of technical services for mobile banking.
The regulations state that pursuant to policy directive of the federal government i.e. the Ministry of Information Technology and Telecom on Technical Implementation of Mobile Banking including mobile money transfers and remittance, the PTA, in exercise of powers conferred under the clause (O) of sub-section (2) of section 5 of Pakistan Telecommunication (Re-Organisation) Act, 1996, hereby made the following regulations. These regulations will be called the "Regulations for, Technical Implementation of Mobile Banking (Amendment), 2019" and will come into force "from the date of gazette notification".
Amendment in the regulation 5 of SRO 397(1)12016: In the regulation 5 of Regulations for Technical Implementation of Mobile Banking at page 1389 of SRO 397(1)120l6 of 2016, new clause (xxvii) will be inserted after the Clause (xxvi) of sub regulation (2) of regulation 5 and be read as follows:
"Telecom operators, AFI(s) and TPSP (s) will enter interconnect agreements as per the terms and conditions set out in the SLAs to extend telecommunication services and systems to facilitate each other in provision of technical services for mobile banking."
Amendment in the regulation 8 of SRO 397(l)12016; In the regulation 8 of Regulations for Technical Implementation of Mobile Banking 2016 at page 1390 of SRO 397(1)12016 of 2016, sub-regulation (2) of regulation 8 shall be substituted and read as follows:
"Telecom operators, AFI(s) and TPSP(s) will enter interconnect agreements as per the terms and conditions set out in the SLA to extend 'telecommunication services and systems to facilitate each other in provision of technical services for mobile banking."