Banking in Afghanistan remains difficult, as only 10 percent of the country’s citizens have access to banks. However, Afghan Wireless Communication Company (AWCC) has found a way to help. In May of 2014, AWCC received its banking license from the country’s central bank, Da Afghanistan Bank, in order to formally launch My-Money, a mobile-based banking application that promises to revolutionize financial services for huge swaths of the country. AWCC’s initial projections show that My-Money will help meet the needs of Afghans across the country, with more than 90 percent of the population receiving the opportunity to conduct banking via their AWCC mobile device.

2.  Banking in Afghanistan remains difficult, as
only 10 percent of the country’s citizens
have access to banks. However, Afghan
Wireless Communication Company
(AWCC) has found a way to help. In May of
2014, AWCC received its banking license
from the country’s central bank, Da
Afghanistan Bank, in order to formally
launch My-Money, a mobile-based banking
application that promises to revolutionize
financial services for huge swaths of the
country.

3.  AWCC’s initial projections show that My-Money will
help meet the needs of Afghans across the country,
with more than 90 percent of the population
receiving the opportunity to conduct banking via
their AWCC mobile device.
My-Money, developed in conjunction with Maiwand
Bank and New Kabul Bank, will allow AWCC
customers to enjoy secure and convenient banking
services across the company’s service area. Built with
the help of USAID and other non-governmental
organizations, My Money will allow subscribers to pay
for items at participating stores, organize and pay
bills, and conduct money transfers between users.

4.  In addition to these conveniences, My-
Money also includes robust security
features, including a four-step
identification process that uses biometric
data and personal passwords, as well as
SIM cards and NFC tags.