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Celpay hands recommendations on mobile banking conference to BOZ

Celpay hands recommendations on mobile banking conference to BOZ
Written by Margaret Habbuno
Sunday, October 18, 2009 3:14:46 AM

CELPAY Zambia Limited has handed over practical recommendations of Mobile banking conference, to Bank of Zambia (BOZ) Governor, Caleb Fundanga.

In a statement on Friday, Celpay chief executive officer Lazarus Muchenje said Zambia last month held a conference where recommendations that comprehensively addressed challenges and key priority areas in mobile banking were singled out.

"The conference came out with practical recommendations on the future of the mobile banking industry. A call was also made for greater participation and collaboration from the banking sector to address critical gaps in the provision of financial services,” he said.

Muchenje said key recommendations from the conference were proposals for more aggressive mobile banking initiatives to enter previously unbanked markets

“The participants and input of all delegates agreed that Mobile Banking Association should be set up.The proposed committee is to function in a similar manner as the Bankers Association and be made up of industry player, have a clear mandate and terms of reference, giving practical recommendations to both the Bank of Zambia and the Communications Authority on mobile banking,” he said.

Muchenje said the conference discussed diversification of banking strategies to dilute complexity in product offering and address critical gaps in financial service provision.

“It was recommended that a target be set for consumer penetration of mobile banking services to ensure that mobile banking and the provision of financial services to all becomes an agenda point into the future,” he said.

Muchenje said the stakeholders agreed that BOZ assists in the facilitation of bringing all industry players on board in future.

Labels: BANKING, BOZ

posted by MrK @ 2:15 AM