Mar 8, 2013

Four Myanmar banks ready for mobile banking

Only four banks in Myanmar have submitted mobile banking proposals to the Central Bank, according to an official at the Central Bank.

“Most of Myanmar banks are not ready for mobile banking,” said the official who asked not to be named.

The four banks that have asked the Central Bank for permission to offer services via mobile phones are First Private Bank, Cooperative Bank, Innwa Bank and Myawaddy Bank, he said.

Myanmar Post and Telecommunication announced last December that it had the necessary infrastructure to set up a system that would allow mobile banking within three months.

Source: Eleven Weekly Media