Sunday, April 13, 2008
Orascom Plans Banking by Phone in Emerging Markets, FT Says
, a
Cairo-based mobile-phone operator, programs to offer banking
services by telephone to its 70 million clients in Africa, Asia
and the Center East, the Financial Times reported, citing
Chairman .
A separate company will be started for the purpose, the
newspaper said.
Mobile banking is likely to go a cardinal gross beginning for
telecommunications companies in developing countries, where bank
charges can be high and retail depository financial institution subdivisions few and far
between, whereas millions of people ain mobiles, the foot said.
Sawiris told the newspaper that mobile banking should
enable Orascom to acquire an other $1 of gross from each
subscriber every month.
To reach the newsman on this story:
Alan Purkiss in Greater London on .
Labels: africa asia, bank branches, bank charges, mobile banking, Mobile Phone, mobile phone operator, purkiss, retail bank, revenue source, separate company, telecommunications companies
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