BNCTL and ANZ sign Memorandum of Understanding
The Minister of State, Coordinating Minister of Social Affairs, Estanislau da Silva, and the Director for ANZ Bank for Pacific and the Fiji Islands, Vishnu Moha, witnessed, on March 31st, the signature of the Memorandum of Understanding between the National Bank of Commerce for Timor-Leste (BNCTL) and the ANZ Bank.
The purpose of this memorandum aims the adoption, in Timor-Leste, of the standard “Mobile Phone Banking Solution”, by both banking institutions. The event was hosted by the representatives from both banks: David Dennis, for ANZ Bank of Timor-Leste, and the Executive Director for BNCTL, Sérgio Maria do Espírito Santo.
According to Minister of State, Coordinating Minister of Social Affairs, Estanislau da Silva, this is a good opportunity for Timor-Leste, and facilitates the access to banking services in rural areas. In practical terms, the standard “Mobile Phone Banking Solution” allows the population to organize their businesses, in a safe and effective way.
“The population may use the phone to be aware of their account balance, transfers, settlement of their accounts, amongst others. Congratulations to BNCTL and ANZ by pulling their knowledge around development. I am confident of the success of this service”, he explains.
Services developed by both banks comprise a significant component at the levels of financial training and empowerment. The provision of this sort of services has been implemented around many countries from the Asia-Pacific region and with most positive results, mainly around rural areas.
In the short term, it is expected for this service from BNCTL to work as an incentive to an inclusive and harmonious development in Timor-Leste.
Apart from the Minister Estanislau da Silva, also present at the signature act were the Minister of Public Works, Transport and Communications, Gastão de Sousa, the Vice Minister of Finance, Helder Lopes, the Vice Minister of Commerce, Industry and the Environment, Constâncio Pinto, the Secretary of State for the Support and Socio-economical Promotion of Women, Veneranda Lemos, and the Chairman for BNCTL, Brígido de Sousa.
