Mobile Phone Banking In Maldives approved by World Bank

World Bank on Thursday approved a $7.7 million credit to the Maldives to improve financial services for banking by mobile phones, reports All Headline News.

"The mobile phone banking project will create a single currency payment system which offers a set of mobile telephone-based accounts," the World Bank said in a press statement.

The system will enable subscribers to transfer funds to and from bank accounts and to and from telephone-based accounts, according to the statement."

emily | 9:02 AM | SMS and Banking |
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