2  BIS Review 79/2010  Country experiences The launching of E-Money Project in Fiji is timely as developing countries such as Kenya, Uganda, Pakistan, and the Philippines have embraced E-Money initiatives to extend financial services to the unbanked, which are mostly poor.
It is being acknowledged globally as an effective tool for tackling poverty, thus attracting the attention of donors and multilateral institutions alike. In some of these developing countries, penetration and uptake of mobile phone, ranges from 45–60% across the population, which includes unbanked users.