Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
Ooredoo Supports World Bank Group's Goal to Achieve Universal Financial Access by 2020

Leading Telecom Company Joins with an International Coalition of Partners to Promote Financial Inclusion

Doha, Qatar: Ooredoo today announced that it is one of the companies supporting the World Bank Group’s efforts to promote financial inclusion and deliver universal financial access by the year 2020, following a major event in Washington D.C. earlier this month.

To support the goal, Ooredoo has committed to providing 17 million people with mobile financial services customers by 2020, across diverse markets including Qatar, Kuwait, Oman, Indonesia, Myanmar, Algeria, Maldives and Iraq.

The World Bank Group’s 2020 goal calls for adults around the world to have access to a transaction account or an electronic instrument to store money, send and receive payments. It recognises that financial access is a basic building block for people to manage their financial life.

Ooredoo has emerged as a pioneer in mobile financial services in recent years, serving more than three million customers in Qatar, Tunisia and Indonesia, with plans in place to launch in Iraq in the near future. The company has recently announced the launch of payroll services for companies to pay salaries directly to mobile in Qatar, in partnership with QNB. The company has also delivered microfinance services in Tunisia and two pilot microfinance programmes in Indonesia.

Additionally, Indosat, which is part of Ooredoo, has partnered with insurance companies in Indonesia to offer personal insurance via mobile.

In signing up to the World Bank Group initiative, Ooredoo is a joining a broad coalition of partners to support the 2020 Goal across its footprint in North Africa, the Middle East and Southeast Asia.

Dr. Nasser Marafih, Group CEO, Ooredoo, said: “Ooredoo supports the development of human growth across our footprint, and mobile connectivity plays a critical role in helping to achieve financial access for all. Building a strong mobile money ecosystem is an important part of this. In support of the World Bank’s goal of universal financial access by 2020, we are proud to commit to 17 million mobile financial services customers during this time period across diverse markets including Qatar, Kuwait, Oman, Indonesia, Tunisia, Myanmar, Algeria, Maldives and Iraq.”

He continued: “Ooredoo already has three million mobile financial services customers, and we are also working closely with other operators to deliver Mobile Money Interoperability to enable customers to manage and access money across borders and devices in a seamless environment. Another critical aspect of delivering on our commitment will be continuing our efforts to help every woman have an equal opportunity to get connected to the internet and thereby access mobile financial services. In addition to these women advancing their economic lives, education and wellbeing, they will be empowered to help those of their partner and children and contribute to the development of their communities as well.”

The World Bank Group’s commitment builds on and scales up support to governments to create an enabling environment for private-sector innovation and investment. Priority actions include reforms to eliminate or reduce cost or distance barriers to opening and using accounts, measures that increase the viability of new technology and business models to reach the financially excluded.

“Galvanizing private-sector investment and innovation and strengthening policy and regulatory frameworks, will be critical to meeting the ambitious target of universal financial access by the year 2020,” said Peer Stein, Director, Finance & Markets Global Practice, World Bank Group. “From our side, we are not only actively convening and energizing a coalition of partners, but also committing to enabling as many as one billion adults, who are now financially excluded, to gain access to a transaction account.”

The 2020 commitment will help empower a significant portion of the two billion people around the world who remain without accounts and help propel the global momentum for meeting the universal financial access.

Posted by : GoDubai PR Dept, -
Viewed 16214 times
PR Category : Technology
Posted on : Sunday, May 3, 2015  5:49:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Email this article Print this article

Share this article with your friends and followers
Back to

Related Stories

Most Viewed Press Release posted in the last 7 days
Pandora ME for Every Side of You [4457-Views]
Code 11.59 by Audemars Piguet – New Tones of Elegance [4424-Views]
“CATRICE” Perfect Look for “Back to the Office” [3526-Views]
Your Guide to Choosing the Right Face Mask [3350-Views]
TishTash Eid Al-Adha Gift Guide 2020 [2767-Views]
Get Summer Ready With Magnitone London! [2722-Views]
Newest LG True Wireless Earbuds Self-clean, Sound Great With Meridian Audio [2628-Views]
Newly Launched HONOR 9A Offers Stunning Photography Anytime Anywhere [2595-Views]
Wonder Ingredients For Powerful Skincare [2505-Views]
10 Million Plastic Packaging Saved: Grohe Launches Initiative to Reduce Plastic [2239-Views]
Taste the Summer With Wild & the Moon's Latest Menu Drop! [2177-Views]
Dubai Well Poised for Growth in New Business Entities' [2169-Views]
Smash Summer Fitness Goals with 100 Workout Modes on the HONOR MagicWatch 2 [2128-Views]
Nahdi Medical Company Transforms its Financial Management with Infor [2120-Views]
Tonda 1950 Lune' [2050-Views]
Comprehensive Study of Refugee Children's Academic, Social, and Emotional Learning Outcome... [1988-Views]
The New Season of Master Maserati Programme Gets Underway [1984-Views]
70 Percent of Businesses Increase or Maintain Digital Transformation Spend Amid Pandemic, ... [1972-Views]
Six Ways LG's Puricare Air Purifiers Can Help Families Improve Air Quality at Home [1972-Views]
Alstom at Forefront of Hygiene & Safety Innovation for Transport & Mobility in a COVID-19 ... [1935-Views]
Hitachi ABB Power Grids Commences Operations [1857-Views]
Karl Lagerfeld Announces Collaboration With Designer Kenneth Ize [1845-Views]
Three UAE Students Bag Coveted Princess Diana Award for Outstanding Social Initiative [1837-Views]
Meet the #Sephorasquad Middle East Members! [1816-Views]
Honeywell Launches Innovative Cooling Technology for Electronics, Data Centers [1792-Views]
RSS Facebook Twitter LinkedDin
Top Sections
Top Stories