The World Bank estimates that one in ten people in Yemen wholly rely on money transfers to meet their basic needs. Remittances to Yemen in 2019 totaled $3.8 billion - 13% of GDP.
Sri Lanka-based fintech Genie has partnered with Bank of Ceylon to act as the financial acquirer and digitize payments through its mobile wallet solution.
Bringing together deep data expertise and thought leadership in financial services will yield crucial insights in service of broader development goals.
Through informal communications, many banks have conveyed to NBFCs and micro lenders that they aren’t in favor of extending the moratorium, said at least three NBFC industry officials.
Myanmar Ministry of Social Welfare, Relief and Resettlement, Department of Social Welfare and Livelihoods and Food Security Fund LIFT have announced funding of $9 million in COVID-19 cash support to mothers, pregnant women and social pension beneficiaries.
A Pragmatic Solution to a Business Continuity Problem Arising out of the COVID-19 Crisis: The Monitoring Application That Allows Customers to Be Served at a Distance
In partnership with the Mastercard Foundation, AccessHolding was able to provide a very pragmatic and fast-paced solution to its network banks.
Hong Kong’s HKT Financial Services, the Fintech Arm of HKT Group, Introduces Digital Financing Platform
Hong Kong-based HKT Financial Services, the Fintech division of the HKT Group, has launched another Fintech project, HKT Flexi, a digital or online financing platform that allows users to make payments via the HKT Flexi App.
Payment companies have reported a surge in digital transactions for buying essential goods since the lockdown began, and more and more fintechs are now working with mom-and-pop stores to enable them to transact digitally.
Many Cambodians are being forced to sell their livestock and farms to pay off debts to banks and microfinance institutions, prompting calls for the government to prevent lenders from collecting during the outbreak.