A memorandum of agreement was signed recently between Smart Communications and the Rural Bankers Association of the Philippines currently headed by Tomas Gomez IV.

With the partnership, rural banks will have access to Smart's 34 million subscribers and SmartMoney's 6.7 million account holders. Thus, mobile banking has facilitated the flow of cash to and from the rural areas where most of the country's poor are located.

The cell phones allow countryside folk access to credit or cash for micro-businesses, agriculture and micro, small and medium enterprises.*MA

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