Central Bank of West African States studies Philippine mobile phone banking and mobile money platforms

Central Bank of West African States visit

A delegation of seven officers from the Central Bank of West African States (BanqueCentrale des États de l’Afrique de l’Ouest, BCEAO) conducted a knowledge exchange visit to the Philippines on March 8-9 to learn about the use of mobile phone banking and mobile money platforms.

BCEAO is the central bank for the West African Economic and Monetary Union, which is composed of eight countries: Benin, Burkina Faso, Cote d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. (see source: http://en.wikipedia.org/wiki/Central_Bank_of_West_African_States)

Left photo from: http://en.wikipedia.org/wiki/Central_Bank_of_West_African_States

Central Bank of West African States visitMr. John Owens, Chief of Party of the USAID-supported RBAP-MABS program, provided the delegates with an overview of mobile phone banking by the Philippine rural banks. He also presented recent mobile phone banking updates in the Philippine rural banking industry, including the Rural Bank-GCASH ATM FaceCard and the role of rural banks in the use of mobile phone banking and mobile money transfer use for the government’s conditional cash transfer (CCT) program.

On March 9, the delegation went to GM Bank, an RBAP-MABS participating bank based in Cabanatuan, Nueva Ecija. There they witnessed how mobile phone banking is being used by the bank and its clients.

The study visit was conducted under the Knowledge Exchange Program of the Central Bank of the Philippines (BSP) and was sponsored by the Alliance for Financial Inclusion (AFI).  Previously, the BSP has also hosted delegations from other central banks including Namibia, Ecuador and Guatemala.