ArabFinance:
National Telecom Regulatory Authority (NTRA) is looking into providing
licenses for Mobile banking after its popular success in more than one
local and international bank.
Dr.Amr Badawi,Executive Manager of
NTRA said that a team is working with Central Bank Of Egypt (CBE) To
determine the necessary framwork to organize the licensing of this new
service.
He added that the main reason for this step is the increased activity of mobile banking providers recently.
He said that Mobile Banking in Egypt now consists of balance information plus Credit Card transactions.
It is worth noting that METCO communications leads in Mobile banking,its
ventures include National Bank Of Egypt (NBE),National Societe General
Bank (NSGB),Piraeus Bank, Credit Agricole,National Bank and Banque
Misr. HSBC is run by a central system operation from Hong Kong and Citi
Bank is run through a similar system from london.
Orascom Telecom has already announced its drive to establish a company specialized in Mobile Banking and money transfering.
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