STAFF REPORT ISLAMABAD: The World Economic Forum (WEF) has released a global report on Mobile Financial Services (MFS). The report titled “The Mobile Financial Services Development Report 2011? has extensive coverage on Pakistan and praises its institutional strength and market maturity for Mobile Financial Services (MFS).
The report explains the factors behind the IT growth and mentions how the MFS can be improved in Pakistan.
It said that although Pakistan lacks some regulatory elements within the MFS regulation sub-pillar, its institutional environment, which includes elements of regulatory proportionality and consumer protection, scores within the top quintile of the country sample included in this study.
This combined with the presence of market catalysts such as government disbursements through mobile and robust data collection and monitoring bode well for the increased adoption of mobile financial services in the country.
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