Please refer to BPRD Circular No.

09 dated July 12, 2016 on Branchless Banking Regulations for

Financial Institutions.

2. State Bank of Pakistan, with the objective to facilitate swift and cost effective inflow of Home
Remittances through Branchless Banking (BB) channel and to increase the financial inclusion through
enhanced usage in BB/mobile wallets; has decided to introduce a new category of Home Remittance
Account under the ambit of Branchless Banking Regulations.

3. In this regard, the framework for Branchless Banking Home Remittance Account (BB-HRA)
containing the objective, applicability, eligibility, due diligence requirements, incentive mechanism and
consumer protection is attached as Annexure “A”. The branchless banking providers are advised to
upgrade their systems, controls and procedures to incorporate the requirements laid down for the
Branchless Banking Home Remittances Accounts within one month of the date of issuance of this
Circular.

4. Further, the banks and microfinance banks are advised to ensure compliance with these
instructions as non-compliance shall be dealt with, in accordance with the relevant provisions of law.