Policymakers embrace mobile banking to reach unbanked poor

Despite regulatory challlenges and the financial crisis, policymakers are embracing mobile banking as a means of providing financial access to the unbanked poor.

More than a billion people worldwide lack bank accounts, but do have mobile phones, providing a dramatic opportunity to achieve greater financial inclusion, according to officials meeting near London, in the UK, in March 2009. To promote effective regulation of mobile banking, CGAP, DFID, and the Alliance for Financial Inclusion (AFI) have organised the second Global Leadership Seminar for highlevel policymakers and regulators who set policy for branchless banking, including mobile banking.

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