UK government provides CGAP with £8m for m-banking
Finextra.com
Friday, March 12, 2010 - 08:55
The UK Department for International Development (DFID) has committed £8 million to a technology programme run by microfinance group CGAP designed to increase access to financial services for the poor.
CGAP, which is based at the World Bank, promotes the use of information and communication technologies (ICT), especially mobile phones, for financial services in the developing world.
The group's technology programme aims to help policymakers develop regulations that support effective use of mobile technologies for financial inclusion. It also wants to harness existing government payments and remittance flows to provide banking services and improve industry knowledge and practice in the areas of customers, agents, business models and regulatory frameworks.
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