Ooredoo, STO signs MOU for Ooredoo money

Telecommunications service provider Ooredo and State Trading Organization (STO) on Tuesday signed the MOU to formally initiate Mobile Money service.

Ooredoo CEO Vikram Singh and STO Managing Director Ahmed Shaheer, signed the MOU on behalf of their respective companies.

Ooredoo reported that with this MOU, all STO pharmacies established in various parts of the country, will receive mobile money service.

"It is an achievement for us, linking citizens across the country, with the assistance of STO and all services of Ooredoo Mobile money," Vikram said.

STO MD Shaheer said the introduction of Mobile Money in STO outlets will greatly assist citizens.

Ooredoo had also signed Mobile Money MOU with STELCO. The service is provided with Maldives Islamic Bank as the banking partner. The service will begin with a budget of MVR 1.5 million.