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MFS transaction limits taking toll on SMEs, e-commerce in Bangladesh
An account holder can now make deposits and withdraw amounts twice in a day. Previously, the limit for cash-in was five and for cash-out it was five. On January 11 this year, Bangladesh Bank issued an order to all mobile financial service providers to comply with the revised mobile banking transaction ceiling, citing abuse of the facility by a section of people.
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- Technology
- Region
- North Africa & Near East
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- digital finance
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This Is How Cryptocurrencies & Blockchain Could Solve Asia’s Financial Inclusion Issue
In 2016, staff members within the International Monetary Fund (IMF) suggested that virtual currencies could promote financial inclusion. The IMF issued the standard cautions about how virtual currencies (VCs) might be used for money laundering, terrorism and other nefarious purposes. But it also wrote that, “VCs offer many potential benefits, including greater speed and efficiency in making payments and transfer--particularly across borders--and ultimately promoting financial inclusion.”
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- Technology
- Region
- South Asia
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Fintech: Africa welcomes emerging fintech startups
Given financial technology is about smart, innovative, flexible start-ups looking to eat away at traditional financial firms’ intermediary roles, it is not surprising that Africa, with its woefully inefficient banks and sclerotic infrastructure, is feeling the full force of the fintech wave. According to industry players, there is a hive of fintech activity now in most major capitals of Sub-Saharan Africa.
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- Technology
- Region
- South Asia
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- fintech, mobile finance
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UN report: Social network payments now reach nearly US $3 trillion in China
A new UN study reveals that Alipay and WeChat Pay enabled US$2.9 trillion in Chinese digital payments in 2016, representing a 20-fold increase in the past four years. The data shows that digital payments, using existing platforms and networks, provide access to a wider range of digital financial services, expanding financial inclusion and economic opportunity throughout China and neighboring countries.
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- Technology
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It’s Amazon versus Alibaba versus Softbank in world’s fastest-growing e-commerce market
Recently published a piece headlined 'India’s e-commerce battle is not Indian anymore' that highlighted the battle between Amazon and China's Alibaba Group in the world's fastest-growing e-commerce market.
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- Technology
- Region
- South Asia
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Ex-Safaricom chief Joseph set to leave Vodafone
Former Safaricom #ticker:SCOM chief executive Michael Joseph is set to step down as Vodafone’s director of mobile money later this year as part of a wider plan to disengage from all his full-time roles at the telecom giant. Mr Joseph, who is the chairman of Kenya Airways #ticker:KQ, is also set to relinquish his non-executive director positions at Vodafone’s African subsidiaries — Vodacom Mozambique, Vodacom Tanzania and Vodacom Group South Africa.
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- Technology
- Region
- Sub-Saharan Africa
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Grameen Foundation lndia appoints Prabhat Labh as CEO
Grameen Foundation India, an innovator in the use of digital technology to advance financial inclusion, has named Prabhat Labh as its new CEO. He succeeds Chandni Ohri who helped to launch the company and has served as CEO since 2011. An international development expert with more than two decades of experience in leading programs and initiatives across Asia, Africa and North America. Prabhat brings with him an indepth knowledge of financial inclusion.
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- Technology
- Region
- South Asia
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‘Fintech startups in Middle East, North Africa raised $100m last decade’
Fintech startups in the Middle East and North Africa have raised $100-million over the last decade, yet 28% fail in their initial years, says a new report by business support organisation Wamda and online payment gateway Payfort.
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- Technology
- Region
- North Africa & Near East
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- fintech