Iraqi Operator to Offer Mobile Banking Services

Iraqi mobile network operator, Asiacell says that it will be the country's first company to offer mobile banking, by implementing the project initiated by Amwal, which aims to enable all Iraqi citizens to settle their financial transactions using their mobile phones at any time and from any location without the need to visit their bank.

Asiacell's subscribers and the consortium's clients will have access to several banking services that allow inter-bank transfers and the settlement of bills, the purchasing of items using VISA card or MasterCard, accessing ATM services, checking account balances, and transferring funds via special codes. Asiacell's customers will also be able to use this service to purchase credit for their mobile phone lines.

Commenting, Dr. Diar Ahmed, CEO of Asiacell, said: "Our partnership with Amwal and the offering of this new line of services to the millions of Asiacell's subscribers is in accordance with our ongoing efforts towards enhancing the local economic infrastructure and raising the overall caliber of business operations by reducing dependence on direct financial banking services. We understand the significance of creating greater integration between all economic sectors in Iraq, and look forward to seeing greater engagement from the Iraqi people in regulated financial services that allow them to settle all of their banking needs by utilizing this modern technology. We hope our partnership will contribute to deepening people's trust in Iraq's banking services, particularly through the offered facilities and guarantees that will be provided in tandem with these services and to the advanced business model that this service will be offering."

Posted to the site on 13th July 2009