We've become so obsessed with technology and our phones as a society as a whole, that this seems like it would be the natural progression of things to happen next...

The central bank of Egypt has granted BNP Pariba the approval for a mobile transfer license via Mobinil

The license for the first time in Egypt, will allow registered users to transfer money to another user via their mobile phones...seems like a good step in the right direction, but only 78 million Egyptian's have bank accounts, while there are 55 million mobile telephone subscriptions!

We're curious to see how this is going to play out and if it will actually encourage more people to open bank accounts!