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Ooredoo joins GSMA Mobile Money program

Mobile Money Interoperability program includes operators across 48 countries in MEA

Marafih: Mobile financial services can offer important social, economic and community benefits.
Marafih: Mobile financial services can offer important social, economic and community benefits.

Ooredoo has announced its participation in the GSMA's Mobile Money Interoperability (MMI) program.

The programme, which includes operators from 48 countries across the Middle East and Africa, is intended to facilitate the uptake of mobile money services, by ensuring interoperability, best practices and regulatory support.

The MMI program includes Bharti Airtel, Etisalat Group, Millicom, MTN Group, Orange, STC Group, Vodafone Group and Zain Group, along with operators from other regions, who account for 582 million mobile connections.

Mobile payments are intended to provide a low cost alternative to traditional banking services. The GSMA estimates that around 2.5 billion people in developing markets lack access to traditional financial services, but that around 1.7 billion of these have a mobile phone, meaning that mobile infrastructure can provide services such as payments, transfers, insurance, savings, credit and cross-border remittances.

Dr Nasser Marafih, Group CEO, Ooredoo, said: "Ooredoo's companies have taken the lead in providing mobile money services in the Middle East, North Africa and Southeast Asia, and we recognise the important social, economic and community benefits that these services provide. We are pleased and proud to support this initiative, which is fully aligned with our commitment to develop life-enriching services that support human growth."

"We have seen the significant benefits of mobile financial inclusion in the developing world and operators recognise that, through collaboration, there are opportunities to extend this inclusion even further," said Anne Bouverot, director general, GSMA. "Mobile network operators are engaging with each other, with banks, financial institutions, regulators, governments and ecosystem partners, to identify and implement solutions that will successfully allow more mobile financial services to be delivered to a broader range of people across both regions, while maintaining high service quality."