“This issue is all over now so I’m not looking back,” Kay Lot, Mobitel’s Chief Operating Officer, said yesterday after the central bank last week finally licensed Cellcard Cash to accept remittances. But after eight months of testing the patience of the National Bank of Cambodia, the funders of the programme The Bill and Melinda Gates Foundation and indeed the rest of the sector, why did Mobitel feel it was above the law in the first place? Following the NBC’s edict on August 27 that it must regulate credit admittances – which clearly include mobile money transfers – Mobitel has continually tried to take short cuts that have only served to undermine the authority of the central bank and call into question its ability to regulate the industry. [Read full article…]
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