Officials from the Central Bank of Afghanistan visited the Philippines on January 12-15 to study the mobile phone banking offered by rural banks, meet with mobile money operators, and understand the regulations about mobile money and mobile phone banking services in the Philippines.
In coordination with the Alliance for Financial Inclusion (AFI) and the Rural Bankers Research and Development Foundation Inc. (RBRDFI), the study tour included visits to RBAP-MABS, the Central Bank of the Philippines (Bangko Sentral ng Pilipinas / BSP), Smart Communications, G-Xchange Inc., and GM Bank, a MABS participating bank based in Nueva Ecija.
The Afghan representatives were particularly interested in the country’s mobile phone banking services and mobile money platforms including how these services are expanding banking services to the underbanked and unbanked sector. They studied the success factors in the Philippine market, as well as the regulatory framework that made the Philippines a successful model for other countries to follow. The Afghan Central Bank officials also visited GM Bank to observe mobile phone banking services that utilize the GCASH platform to provide greater access to rural bank clients in the countryside. They were just one of the various groups of delegates taking a look at the country’s successful mobile phone banking industry and the mobile money platforms that are expected to expand exponentially in 2010.