Timor-Leste central bank green lights mobile money pilot
Central bank publishes ‘master plan’ for financial sector development
The Central Bank of Timor-Leste granted BNU Timor, a bank of the Portuguese group Caixa Geral de Depósitos, permission to introduce a mobile money pilot program in the country.
According to a statement the central bank released this week, this initiative will allow "users to execute payments, transfers and withdraws through mobile phones up to 300 dollars per transaction and 400 dollars per day".
The central bank established a set of rules that must be followed by BNU Timor during the
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