to capture long term mobile financing potential in the market, told us
highly reliable source in Ministry.
For the purpose a China Mobile Communication Corporation delegation,
headed by Chairman CMCC Wang Jianzhou is visiting Pakistan. It has met
several key personals including Governor State Bank of Pakistan, Sardar
Latif Khosa, Advisor to PM for IT& Telecom and Chairman PTA.
China Mobile has expressed its seriousness about Mobile Banking in
Pakistan in the past; however, this activity marks as the starting point
for the execution of China Mobiles plan for jumping into financial services.
We know that Orascom has been putting efforts to get a bank in Pakistan,
for almost similar reasons; however, it has taken longer than enough
time to close any deal.
It merits mentioning here that China Mobile has recently invested $ 5.8
billion in Shanghai bank. Through this deal, China Mobile will be able
to offer mobile finance and mobile e-commerce businesses encompassing
mobile phone payments, mobile bank cards and mobile funds transfers.
China Mobile Looking for a Bank Acquisition in Pakistan it is good point
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