Push for mobile banking growth

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Cheng Sokhorng

Cambodia's central bank wants to increase the usage of mobile banking services, especially in far-flung rural areas, by encouraging Cambodians to open bank accounts and avail the convenience and secure nature afforded by digital banking.

Speaking yesterday during the “National Summit on the Development of Microfinance Sector in Cambodia”, Ouk Sarat, director of the payment system department at the National Bank of Cambodia (NBC), said mobile banking could bring more people into the formal banking segment. He admitted, however, that mobile banking services in the Kingdom needed much improvement.

“Mobile banking still has a lot of challenges and to promote this segment we have to guarantee security and fair competition,” he said.

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