The Central Bank of Myanmar is planning to launch a mobile banking system in October, according to bank officials.
The Central Bank has submitted proposals and it will start a final phase on banking procedures after announcing mobile banking instructions.
“We have submitted the many proposals to respective departments to launch mobile banking system. We are also planning to operate this system in October and going to issue the instructions as long as use the system,” said an official from Central Bank.
The local private banks such as Co-operative Bank, Inwa Bank, Myawady Bank and First Myanmar Private Bank have presented their proposals to the Central Bank to operate mobile banking systems.
The Central Bank has already informed some private banks that to prepare for mobile banking services.
If some private banks opt to open mobile banking services, they will use mobile network operators or other solution providers.