The National Bank of Cambodia has warned that it will take action after local mobile network, Mobitel launched a mobile banking service without applying for permission from the Central Bank. The Central Bank issued a ruling in August that it must oversee credit remittances - which it says includes the money transfer services provided by mobile networks.
Mobitel's Cellcard Cash service was launched on September 20 without the filing of an application, reports the Phnom Penh Post. The money transfer service is backed by the Bill and Melinda Gates Foundation.
Central Bank director general Tal Nay Im declined to comment on what action the central bank was considering, she did not rule out legal action against the mobile network operator.
