Logo of Phnom Penh Post newspaper Phnom Penh Post - Cellcard Cash close to NBC approval

Cellcard Cash close to NBC approval

Cellcard Cash close to NBC approval

MOBITEL has submitted the required documents for licensing of its Cellcard Cash programme, with approval slated to come soon, according to National Bank of Cambodia Director General and Spokeswoman Nguon Sokha yesterday. 

“Actually, Mobitel has complied with all our legal requirements,” she said, adding the firm’s application is before NBC Governor Chea Chanto, which is the last step in the process to become fully licensed.

“I don’t think it [approval] will take long,” she said.

Mobitel controversially launched its Cellcard Cash programme in September 2010 without NBC oversight. Cellcard Cash is a method of providing money transfers using mobile phones.

The central bank released a prakas, or edict, on August 27, 2010, stipulating programmes such as Cellcard Cash must partner with a bank and submit to NBC approval.

NBC officials had set a February 2011 deadline for Mobitel to meet its requirements, which was later pushed back to April.

Mobitel officials declined to comment yesterday.

Mobitel had received some funding for Cellcard Cash from the Mobile Money for the Unbanked programme, which had been funded largely by the Bill and Melinda Gates Foundation. MMU officials froze payments of the grant to the Cambodian mobile provider following the programme’s launch without central bank oversight.

Nguon Sokha also confirmed that Mobitel would be partnering with Union Commercial Bank to provide the service.

MOST VIEWED

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to