In an unprecedented step that enables subscribers to conduct financial transactions via mobile phones
July 2009 - As part of its dedication to introducing the latest cutting-edge services to the Iraqi people and contributing towards enhancing economic stability in Iraq, Asiacell - the largest private Iraqi company and the first and only mobile telecommunications company to provide coverage for all of Iraq - announced the signing of an e-banking cooperation agreement with AMWAL, a consortium of leading private Iraqi banking institutions.
Asiacell will be the first mobile company to provide e-banking services through implementing the project initiated by AMWAL, which aims to enable all Iraqi citizens to settle their financial transactions using their mobile phones at any time and from any location without the need to visit their bank. Asiacell's subscribers and the consortium's clients will have access to several banking services that allow inter-bank transfers and the settlement of bills, the purchasing of items using VISA card or MasterCard, accessing ATM services, checking account balances, and transferring funds via special codes. Asiacell's customers will also be able to use this service to purchase credit for their mobile phone lines.
Commenting on this unprecedented step in Iraq, Dr. Diar Ahmed, CEO of Asiacell, said: "Our partnership with AMWAL and the offering of this new line of services to the millions of Asiacell's subscribers is in accordance with our ongoing efforts towards enhancing the local economic infrastructure and raising the overall caliber of business operations by reducing dependence on direct financial banking services. 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. We hope our partnership will contribute to deepening people's trust in Iraq's banking services, particularly through the offered facilities and guarantees that will be provided in tandem with these services and to the advanced business model that this service will be offering."
It is worth nothing that Asiacell continuously follows up on the latest developments in the global IT market enables it to effectively meet the needs of the Iraqi market. This agreement comes as a continuation of Asiacell's innumerous successes, the most recent of which is its building 190 communication towers in Iraq within 2 months, setting a new record.
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About Asiacell
Asiacell, the first mobile telecommunications company in Iraq, was established in the city of Sulaimaniya in 1999 by the well-known entrepreneur Mr. Faruk Mustafa Rasool. It is today the only national Iraqi telecom network to provide coverage for all of the country's provinces in the north and the south and is the largest private Iraqi company, serving over 7 million subscribers and connecting the Iraqi nation together.
This press release was issued by Asiacell. For more information, please contact us at:
Public Relations Department
Telephone: +964 770 119 5804
Email: swar.ahmad@asiacell.com
© Press Release 2009
