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Mobile Banking to Launch This Month, Burma’s Central Bank Says

4 October 2013

The Central Bank says it will oversee the launch of mobile Internet banking in Burma, a country where low cellphone penetration and an antiquated financial system have held back everything from business transactions to social lives. Eleven Media reported on Friday that banks including Co-operative Bank, Inwa Bank, Myawady Bank and First Myanmar Private Bank submitted online mobile banking proposals to the Central Bank, which intends to launch the service in Burma this month. An official from the Central Bank was quoted as saying that instructions for mobile banking would also be issued.