Mongolian monetary officials in Phl

MANILA, Philippines - Seventeen delegates from the Bank of Mongolia, the Finance Regulatory Board of Mongolia, the Information, Communications Technology, and Post Authority, along with other Mongolia government officials participated in the Rural Bankers Association of the Philippines (RBAP) International Visits Program last month. This was to learn first-hand about the uses of mobile money and mobile phone banking in the Philippines. John Owens, chief of party of the RBAP-Microentrepreneurs Access to Banking Services (MABS) program, introduced the delegates to the uses of mobile money and mobile phone banking practiced by Philippine rural banks. Owens also shared the latest updates in the Philippine rural banking industry, how mobile money and mobile phone banking are helping in the expansion of banking services to reach far-flung areas in the country, and how the Philippines’ excellent regulatory system has helped in the success of mobile phone banking.