A new joint program will work to unlock access to sustainable finance, especially for young and women entrepreneurs.

The FINNIX mobile app, which is regulated by the Bank of Thailand, was developed by MONIX and offers microfinance loans through a completely digital process from loan application to approval and disbursement.

IFC announced an investment for the National Bank of Iraq to support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions.

The investment aims to support a resilient recovery by promoting business growth, creating jobs, and fostering financial inclusion.

Ongoing shifts toward e-commerce, digital payments (including contactless), and instant payments have all been significantly boosted during the pandemic with real-time payments surging by 104 percent.

The Bank of Thailand has been asked to review the ceiling of interest rates and supervise credit cards, personal loans and car loans, as the Thai government has vowed to tackle high household debt, incurred by credit card and personal loans.

The aim of the partnership is to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the growth of a cashless society.

Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

Qi Card mobile money offering provides Iraqis with digital means for safe and secure financial transactions.