Mobile banking services to launch in May’09, MMA (Maldives)

Maldives Monetary Authority, MMA, has reportedly unvieled the plans to launch the mobile banking services in the country in May 2009. According to the MMA Deputy Governor Aishath Zahira, Work Bank has granted the required funding for the banking services. She said with the introduction of the services, the financial sector will experience favorable changes.
She further added that MMA is in negotiations with foriegn banks and has signed a MOU with one of the two foriegn banks. We have reached agreements with Dhiraagu and Wataniya; we are targeting to commence services in late 2009 or early 2010” Deputy Governor Zahira said.
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