Iraq’s Asiacell moves into m-banking

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Iraqi telco Asiacell has inked a deal with Amwal, a consortium of the country’s private banks, aimed at letting customers manage their finances through mobile phones.

Under the deal, Asiacell subscribers and the consortium’s clients will be able to use their handsets to make interbank transfers, settle bills, make purchases on Visa and MasterCard cards, check account balances and transfer funds. Asiacell’s customers will also be able to use the service to purchase credit for their mobile phones.

Diar Ahmed, CEO, Asiacell, comments: “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.”