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Central Bank Looks to Mobile Banking to Ramp Up Financial Inclusion

A street vendor sells mobile phones in Yangon February 4, 2013. Cellular operator Digicel Group Ltd. jumped into Myanmar early and big, hiring staff, funding local sports, negotiating land deals for thousands of cell tower sites and signing up hundreds of partners for retail outlets. The strategy helped propel it onto the shortlist for a mobile licence in one of the world's last mobile frontiers, putting an operator that ranks 65th globally in terms of customers up against giants such as Vodafone Group Plc. Myanmar in April 2013 short-listed 12 consortia for two licences it plans to grant foreign operators in late June. The government wants to expand mobile penetration from less than 4 percent to up to 80 percent by 2015-16. Picture taken February 4.                           
REUTERS/Soe Zeya Tun (MYANMAR - Tags: BUSINESS TELECOMS)

The Central Bank of Myanmar (CBM) revealed on its website on Monday the official rules and regulations for mobile financial service providers (MFSPs), seen by observers as a way to reach more rural customers throughout Burma.

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Central Bank Looks to Mobile Banking to Ramp Up Financial Inclusion

Source: The Irrawaddy

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