I am so delighted to present 10th consecutive year of country's premier Mobile Commerce Conference. With the support of Stat Bank of Pakistan and Pakistan Telecommunication Authority, the event is now a permanent and key feature of technology map of Pakistan, and the flagship event of Mobile Commerce in the region. National Financial Sector has been playing a proactive role to come up with products that are reachable across mobile spectrum nation-wide.
Every Telco now has its own Branchless Banking brand and few banks have their non-Telco based BB solutions. Banks now offer Mobile Banking as a normal banking service for its account holders. Most of these BB services are tailored for citizens that do not posses bank accounts. The Funds transfer facility through Mobile Commerce is now a common feature of Pakistan's national life. Annual transactions have crossed Trillion Mark for Branchless Banking.
To cover the potential risks and threats associated such large volume, SBP and PTA have introduced specific Regulations for Mobile Commerce. The high level collaboration between banking and telecommunication regulators will assist in developing a unified regulatory framework to facilitate the customers of telecom and banking sectors. The regulators are targeting to serve banked and un-banked customers and also to protect user interest. Despite all efforts still a small percentage of national population is using Mobile Commerce services. Therefore, the road to sustainable Mobile Commerce platform is long in Pakistan.
In the end, on behalf of Total Communications, I thank the Title sponsor JazzCash and all other sponsors, without whom, of course, this journey of 10 years would not have been a great success year after year. I wish a great, vibrant time ahead for all the stakeholders and hope to see all you again at next annual Mobile Commerce with more focus, energy and better results.