. along with the tremendous growth in the branchless banking sector, the infrastructure of payment systems and branch network is also showing an increasing growth trend. the atms network has increased to 6, 232 whereas branch network has reached 11, 600. 94 percent of our branches are now real time on - line. similarly, the number of plastic cards has increased to 20 million and the number of pos machines has increased to 34, 000 units. this is a significant achievement, and this also demonstrates the opportunity to bring the benefits of this infrastructure to millions of the unbanked population. branchless banking has also proved to be an effective instrument in channelizing the government to persons ( g2p ) payments in trying times like serving internally displaced persons ( idps ), and devastating floods for the last two years. the benazir income support programme beneficiaries are also being served effectively through the same mechanism. in the coming days, this channel is expected to continue playing an important role towards the promotion of financial inclusion and the management of government to person ( g2p ) programs like salaries disbursements, pensions, bisp, watan cards, pakistan cards and tax collections services, etc. the existing branchless banking deployments can cater to the needs of over 10 million potential beneficiaries of g2p payments in pakistan. branchless banking is going to dominate the retail banking landscape in the long - term. whilst we seek to encourage the introduction of innovative instruments for payments, we also need to ensure that high levels of standards are maintained for safety, security and protection of consumers ’ interests. the central policy objectives of sbp are to ensure safety, soundness and efficiency of the banking system, and to protect the interest of consumers. since branchless banking is becoming a vital component of the national payment grid, it is prudent for all stakeholders to ensure that appropriate measures are in place to mitigate inherent risks associated with it like access by un - authorized persons / criminals such as hackers, money launderer, terrorist financiers etc. this can only be achieved when our technologies are robust and secured, and agents are comprehensively trained and effectively monitored by the banks. in this regard, the importance of a comprehensive agent development framework cannot be ignored. i am sure that our banks would not simply jump on the bandwagon without sufficient agent development mechanisms including their hiring, on - going training and monitoring. bis central bankers ’ speeches building public confidence on

##reast of industry developments, enhance their supervisory techniques, promote consistent standards and strengthen risk management practices to address emerging challenges. 27. capacity building through recruiting adequate number of quality staff and equipping them with the right skills and tools is an ongoing process that empowers supervisors to fulfil their roles in maintaining the stability and soundness of the banking sector. conclusion let me now conclude. 28. by staying abreast of technological advancements, monitoring the evolving risk landscape, keeping pace with regulatory developments, building necessary capacities and skills and adopting latest analytical tools, supervisors can more effectively fulfil their role in maintaining financial stability, protecting consumers, and fostering a resilient banking sector. learning from past experiences and collaborating across jurisdictions can help better navigate the challenges ahead. this can contribute to building a strong banking sector that supports sustainable economic growth in the asia - pacific region. 4 / 5 bis - central bankers'speeches the conference provides this platform and i believe that it shall prove to be very useful for all the participants. my best wishes to all of you. thank you! 5 / 5 bis - central bankers'speeches