Lion International Bank (LIB) S.C is to launch agent and mobile banking services, Addis Fortune reported.

In providing these services, LIB will follow Commercial Bank of Ethiopia (CBE), Wegagen International Bank S.C. and United Bank S.C..

LIB has done the pilot programme starting from February to May 2015 to inspect agent and mobile banking system under a separate unit.

LIB has enlisted 160 agents in Addis Ababa.

According to Getachew Solomon, President of LIB, the Bank submitted its report to NBE two weeks ago and waits for the approval to begin the services.

As to NBE regulations for mobile and agent banking services, NBE is expected to assess the pilot test report and approve in a month

The Bank embarked on these services because of the cost effectiveness of the system in comparison to opening a branch and the increasing number of mobile subscribers, Abreham Tilahun, manager of the Alternative Channel Banking Division of LIB stated.

LIB was established on October 2, 2006 and has 90 branches throughout the country.

Source: Addis Fortune