Malaysia’s Axiata Group, the controlling shareholder of Bangladeshi cellco Robi Axiata, has agreed to form a joint venture with Trust Bank to provide mobile financial services in Bangladesh under the Trust Axiata Digital banner. TelecomAsia reports that Trust Bank will own 51% of Trust Axiata Digital with Axiata taking the remainder of the venture, which will provide ‘technology-driven financial services’, including mobile financial services alongside ‘agent banking and cards’. Subject to regulatory approval, Trust Axiata Digital is expected to be up and running in around three months. Trust Bank has around 100 branches and another 152 ATM locations, whilst Robi is Bangladesh’s third largest mobile operator with 28.37 million users at end-September 2015.
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