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Global Financial Systems

Global Financial Systems

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In the wake of globalization and new information and communication technologies, mobile financial services are re?shaping the international financial systems – making it easy and faster to save, deposit and transfer money worldwide in a way hitherto seen. Mobile banking has deeply penetrated developing economies, reaching out to rural populations that have no?to?limited access to financial services. A new phenomenon in many parts of the world, mobile financial services have surged in developing world, from Brazil to India, Afghanistan and Kenya – taking economists by surprise. However, its relevance in relation to trade development in a globalized economy is yet to be examined. Since liquidity is the driver of day to day execution of business, it fascinates to examine the role of Mobile banking in meeting daily financial needs of businesses in developing world.
The Place of Mobile Banking in International Trade