Pakistan is expected to have as many as 100 million bank accounts by 2025, according to Tameer Microfinance Bank CEO Nadeem Hussain. He said at a meeting of business leaders that effective banking regulations and better coordination among different stakeholders had made Pakistan one of the few countries where a bank account could be opened in just one minute. Thanks to the concept of the one-minute bank account, the industry is opening close to a million accounts a month, he said. There were 41.7 million bank accounts in Pakistan at the end of last fiscal year, according to the State Bank of Pakistan. More than 31.3 million accounts, or 75% of all bank accounts, belonged to the personal accounts category. The SBP has recently modified the regulatory framework to quicken the bank account-opening process with the help of the national database authority.
