Question

consequences of launching a mobile financial services in Myanmar?

Answer 1

Following will be the important consequences of launching a mobile financial services in Myanmar;

1. It will make a better financial system in the country because physical banking transaction always can not work efficiently. Thus mobile financial system will laid down the foundation for strong financial system in the country.

2. It will result into better banking supervisory system. As we know that with the help of technology we can supervise a large area easily in compare to physical supervision. Hence it is true that mobile financial service can be easily monitored & supervised.

3. It will bring more transparency in the banking system of the country. As we know that in traditional banking system frauds, bribes and other illegal activities take place easily but in case of mobile financial services such activities will be eliminated.

4. It will bring operational efficiencies in the banking system of the country and as a result cost of banking services will be minimized.

5. It will cover wide area of the country. Hence we can say that with the help of mobile financial services in the country concept of inclusive banking can be fulfilled easily.

6. In present time, use of mobile reached at peak point hence with the help of mobile financial services every individual of the country will be covered under this banking system.

7. It will bring more stability in the banking system of the country.

8. Such strong mobile banking services will result into more positive business activities and ultimately it will bring more economic growths in the country.

9. It will bring more employment oppurtunities and it will result into higher per capita income.

10. It will result into more competitive banking services in the country hence as a result users of banking services will get low cost banking services in the country etc.