Telenor Pakistan acquired stake in Tameer Micro Finance Bank to introduce the country’s first branchless banking in 2009. Analysts raised eyebrow when China Mobile threw US$5.8 billion for 20% of Shanghai Pudong Development Bank in 2010. SPDP now offers Corporate Mobile Banking Services. It will be, however, grossly inappropriate if the Philippines and Kenya are not credited as the global pioneers of mobile banking.
Sending money home has become easier and faster as two banks and a mobile operator yesterday launched a cellphone-based remittance transfer system. The joint move by Eastern Bank, Dhaka Bank and mobile operator Banglalink will allow the remittance receivers to cash in a day instead of three days to one month through different existing channels. The new service styled ‘Mobile Wallet’, which will also serve the unbanked population at no cost, got a shape after Bangladesh Bank (The central bank) gave a go-ahead to the move a few months ago. Presently more than 90 percent of the population in Bangladesh does not have access to regular banking facilities. Read more.