The top 5 banking news stories in emerging markets this week.
1 – PH mobile banking tops in Asia
The Philippines provides the best access to financial services to people among 12 countries in Asia, reflecting the central bank’s efforts to boost inclusion and tackle poverty, an Economist Intelligence Unit study shows. >>
2 -Is the mobile phone the new bank?
(CNN) —The use of mobile phones to transfer money, make payments and access financial services has revolutionized the lives of millions of people who have never had access to traditional banking services. >>
3 – Nigeria’s cheap banking assets attract interest
LENDERS from London to Qatar are hunting for African banks to buy. No market is attracting more interest than Nigeria, where 35 million adults keep their cash at home. >>
4 – Financial innovation in emerging markets
Earlier this month, the Ecuadorian Government announced its plans to introduce a digital currency, the first of its kind globally. In a country where 40% of citizens don’t have a bank account according to The Economist, this has the potential to transform banking and allow companies to gain access to those without a bank account for the first time, writes Roman Itskovich. >>
5 -Asia’s newest emerging market also has its risks
Coca-Cola, Hilton Worldwide and Gap are just a few of the U.S.-based conglomerates that have entered Myanmar in the last few months and hope to make the most of that market. >>