Nib International Bank (NIB) has received a license from the National Bank of Ethiopia (NBE) on June 16, 2015, to launch mobile banking service in the next few weeks, Addis Fortune reported.
Mobile banking solution, T-24 brand was purchased along with the core banking solution in 2012 from a Swiss company, Temons PLC via an international competitive bid.
“Even though its solution was purchased earlier, the mobile banking project has been delayed to give due precaution for the security feature of the service,” Mulugeta Delnesaw, Corporate Planning & Business Development Head of NIB told Fortune.
The mobile banking service provides checking transactions; transferring funds between one’s own current saving accounts; local money transfers to any receiver; beneficiary payments, including paying bills by transferring money to Ethio Telecom, Ethiopia Electric Utility (EEU) and other services.
The maximum sum allowed in mobile banking transactions a day is 6,000 Birr.
NIB was founded on May 26, 1999 with paid-up capital of 27.6 million, authorized capital of 150 million Birr and 717 shareholders. Currently, the Bank has 4, 000 shareholders, with paid-up capital of 1.27 billion Birr and total deposits of 9.8 billion Birr.
Source: Addis Fortune
