Asiacell brings mobile money services to Iraq

Iraqi mobile operator Asiacell, part of the Qtel group, has signed a strategic agreement with a consortium of banks called Amwal to offer mobile money services in Iraq.

Under the terms of the agreement, Asiacell will be the first mobile company in the country to provide advanced commercial banking and transaction services accessed via mobile phones. Prepaid customers will be able to use their handsets to directly purchase airtime, buy goods and services from registered merchants, check their bank account balances, and make mobile-to-mobile and bank account-to-bank account money transfers.

All transactions will be linked directly with subscribers’ bank accounts at Amwal member banks, using a highly-secure, reliable transaction system.

Asiacell provides network coverage for all of the country’s provinces and serves more than seven million subscribers. It is the largest private Iraqi company.