Cooperatives Bank, one of Myanmar’s leading private banks, introduced mobile banking in the cash-dominated Southeast Asian country, local newspaper Pyi Myanmar reported.
“We have yet to apply for official permission from the central bank,” said an unnamed official of the bank.
The same official said the bank’s mobile banking system is in trial period and hasn’t experience any errors so far.
The source also said the permission would be granted soon as the bank has almost got ready the system.
If the central bank approves the mobile banking system, the remittance could be made through mobile phones.
The central bank is drafting rules and regulations for the mobile banking.
The CB bank owned by Myanmar tycoon Khin Maung Aye is planning to assign reliable persons in rural areas where the mobile network is not easily accessible.
“We have yet to apply for official permission from the central bank,” said an unnamed official of the bank.
The same official said the bank’s mobile banking system is in trial period and hasn’t experience any errors so far.
The source also said the permission would be granted soon as the bank has almost got ready the system.
If the central bank approves the mobile banking system, the remittance could be made through mobile phones.
The central bank is drafting rules and regulations for the mobile banking.
The CB bank owned by Myanmar tycoon Khin Maung Aye is planning to assign reliable persons in rural areas where the mobile network is not easily accessible.
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