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FBR completes working on Asaan Mobile Account (AMA) Scheme

FBR completes working on Asaan Mobile Account (AMA) Scheme

ISLAMABAD: Federal Board of Revenue (FBR) has completed its working on Asaan Mobile Account (AMA) Scheme; however, formula for sharing of revenue among the stockholders is yet to be finalized, it is learnt here.

Official sources told Customs Today that the board has proposed that transaction limit shall not be exceeded to Rs30,000 and it is expected that 50% of youth will be linked to this Asaan Mobile Account (AMA) Scheme within two years.

Sources further told that AMA was expected to commence operations by the end of December 2017; however, till now it is not possible to operate the scheme due to delay in licensing, submission and reviewing of business plan/proposal.

It is important to mention here that the objective of the scheme is to improve accessibility of new customers for account opening, drive usage of digital financial services through increased number of account-to-account transactions across various networks and provide digital access to a range of quality financial services.