The Regulation Of Mobile Money PDF Download
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| Author | : Sunduzwayo Madise |
| Publisher | : Springer |
| Total Pages | : 423 |
| Release | : 2019-03-26 |
| Genre | : Business & Economics |
| ISBN | : 3030138313 |
Download The Regulation of Mobile Money Book in PDF, ePub and Kindle
The emergence of mobile money and other new forms of payment has changed the sovereign foundations of money. Starting as a Department for International Development funded project in Kenya, mobile money has now spread to many developing countries. This book looks at the regulatory issues that mobile money poses, and the potential risks to the financial system. It undertakes a comparative study of mobile money regimes in Kenya, Malaŵi, Tanzania, and South Africa. Although the main study is on Malaŵi, the lessons learnt are valuable to Sub Saharan Africa in understanding the regulatory issues surrounding mobile money. The main argument that this book makes is that the traditional regulatory architecture of supervising the financial services is ill-suited to supervise new forms of money like mobile money. With no requirement for a bank account, mobile money is not subject to prudential regulation. Mobile money is now considered a key developmental tool to achieve financial inclusion among the poor, rural based, unbanked, and underbanked. As opposed to traditional additive forms of financial inclusion, mobile money is transformative. In most jurisdictions where it has been launched, mobile money has largely been regulated using light-touch, with regulation following innovation. This work, however, proposes an approach based on the concept of really responsive regulation. This approach is best suited to embrace mobile money as it passes from the pre-financial inclusion to the post-financial inclusion phases of its evolution. This book will appeal to students and academics in the financial regulation field.
| Author | : |
| Publisher | : |
| Total Pages | : 300 |
| Release | : 2003 |
| Genre | : Computer network resources |
| ISBN | : |
Download The World Bank Research Observer Book in PDF, ePub and Kindle
| Author | : Serena Natile |
| Publisher | : Routledge |
| Total Pages | : 222 |
| Release | : 2020-01-20 |
| Genre | : Political Science |
| ISBN | : 0429603770 |
Download The Exclusionary Politics of Digital Financial Inclusion Book in PDF, ePub and Kindle
Focusing on Kenya’s path-breaking mobile money project M-Pesa, this book examines and critiques the narratives and institutions of digital financial inclusion as a development strategy for gender equality, arguing for a politics of redistribution to guide future digital financial inclusion projects. One of the most-discussed digital financial inclusion projects, M-Pesa facilitates the transfer of money and access to formal financial services via the mobile phone infrastructure and has grown at a phenomenal rate since its launch in 2007 to reach about 80 per cent of the Kenyan population. Through a socio-legal enquiry drawing on feminist political economy, law and development scholarship and postcolonial feminist debate, this book unravels the narratives and institutional arrangements that frame M-Pesa’s success while interrogating the relationship between digital financial inclusion and gender equality in development discourse. Natile argues that M-Pesa is premised on and regulated according to a logic of opportunity rather than a politics of redistribution, favouring the expansion of the mobile money market in preference to contributing to substantive gender equality via a redistribution of the revenue and funding deriving from its development. This book will be of particular interest to scholars and students in Global Political Economy, Socio-Legal Studies, Gender Studies, Law & Development, Finance and International Relations.
| Author | : Joy Malala |
| Publisher | : Routledge |
| Total Pages | : 154 |
| Release | : 2017-11-28 |
| Genre | : Law |
| ISBN | : 1351728571 |
Download Law and Regulation of Mobile Payment Systems Book in PDF, ePub and Kindle
Over the last ten years mobile payment systems have revolutionised banking in some countries in Africa. In Kenya the introduction of M-Pesa, a new financial services model, has transformed the banking and financial services industry. Giving the unbanked majority access to the financial services market it has attracted over 18 million subscribers which is remarkable given that fewer than 4 million people in Kenya have bank accounts. This book addresses the legal and regulatory issues arising out of the introduction of M-Pesa in Kenya and its drive towards financial inclusion. It considers the interaction between regulation and technological innovation with a particular focus on the regulatory tools, institutional arrangements and government decisional processes through the examination as a whole of its regulatory capacity. This is done with a view to understanding the regulatory capacity of Kenya in addressing the vulnerabilities presented by technological innovation in the financial industry for consumers after financial inclusion. It also examines the way that mobile payments have been regulated by criticising the piecemeal approach that the Central Bank of Kenya has taken in addressing the legal and regulatory issues presented by mobile payments. The book argues there are significant gaps in the regulatory regime of mobile banking in Kenya.
| Author | : Pierre-Laurent Chatain |
| Publisher | : World Bank Publications |
| Total Pages | : 234 |
| Release | : 2011-02-24 |
| Genre | : Political Science |
| ISBN | : 0821386700 |
Download Protecting Mobile Money against Financial Crimes Book in PDF, ePub and Kindle
Mobile Money is a booming industry in an increasing number of countries worldwide. The project results from increased demand for guidance and technical assistance from governments after the 2008 publication of an exploratory paper, Integrity in Mobile Phone Financial Services, which discussed mobile money and the application of international anti-money laundering (AML) and combating the financing of terrorism (CFT) standards. For most, how to craft a regulatory regime that expands access to financial services to the poor through the development of mobile phone financial services, but compliant with AML/CFT standards remains elusive. Specific AML/CFT regulations related to mobile money have not been issued in many jurisdictions, mainly due to the lack of awareness of the risks these services can pose if the right controls are not in place. Because the international standards for AML/CFT, the Financial Action Task Force s 40 + 9 Recommendations were designed and issued well before mobile money technology and business models became prevalent, even developed countries have begun to face challenges with their regulation. The project team aims to provide practical guidance to jurisdictions and the Industry on how to draft regulations and internal guidelines that allow them to comply with AML/CFT standards with enough flexibility for mobile money to thrive. Specifically, the paper (1) takes stock of new AML/CFT regulations and practices relevant to Mobile money, (2) design guidelines for drafting AML/CFT regulations that cover mobile money and (3) propose examples of best practices for the Industry to include AML/CFT in their own business model.
| Author | : Tanai Khiaonarong |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2014-07-15 |
| Genre | : Business & Economics |
| ISBN | : 1498331572 |
Download Oversight Issues in Mobile Payments Book in PDF, ePub and Kindle
This paper examines oversight issues that underlie the potential growth and risks in mobile payments. International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or “pass through” deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems. Such measures are particularly important for low-income countries where diffusion is becoming more widespread.
| Author | : Jonathan Greenacre |
| Publisher | : |
| Total Pages | : 66 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download The Regulation of Mobile Money in Malawi Book in PDF, ePub and Kindle
This report is the result of a study undertaken in late 2013 on Malawi's legal and regulatory framework for mobile money. The study was commissioned by the MM4P and conducted in consultation with the Reserve Bank of Malawi (RBM). The study had three outputs which are the focus of this report:(i) to provide a market update on mobile money in Malawi, focusing on the status of mobile money programs and the regulatory environment for mobile money;(ii) to identify the main regulatory challenges for mobile money to develop safely in Malawi; and(iii) to provide preliminary recommendations for RBM for dealing with those challenges.The overarching objective of the study is to assist in developing an enabling legal and regulatory environment for market players and end-users in the mobile money space, thereby encouraging that space to develop and grow. Mobile money products and services can be used to provide access to financial services for the unbanked and under-banked, thereby providing greater opportunities for many Malawians to rise above their current standards of living. The study is part of a broader international research project being undertaken by the Law Faculty at the UNSW on the regulation of mobile money. This international research project is supported by the Centre for International Finance and Regulation (CIFR), UNCDF, Standard Chartered Bank and UNSW.
| Author | : Mr. Marc C Dobler |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2021-12-14 |
| Genre | : Business & Economics |
| ISBN | : 1513593404 |
Download E-Money: Prudential Supervision, Oversight, and User Protection Book in PDF, ePub and Kindle
This departmental paper discusses the evolving prudential frameworks for nonbank issuers of electronic money. Some jurisdictions take a relatively light-touch approach to regulating electronic money issuers (EMIs). Others have sought to apply more stringent requirements to protect electronic money (e-money) users, as the sector has grown in importance. The paper aims to build on previous IMF staff contributions to the literature and to draw policy conclusions for strengthening e-money regulatory regimes; in particular in jurisdictions where issuers, individually or collectively, have grown to a size to which they are of macro-financial importance (see below). Chapter 2 provides background on the development of e-money, its economic benefits, and potential risks. Chapter 3 discusses prudential supervision of EMIs, followed in Chapter 4 by their oversight from a payments system perspective. Chapter 5 discusses potential additional measures for user protection and contingency arrangements for EMI failure. The last chapter presents policy recommendations for policymakers, especially in those emerging market economies and developing countries wherein EMIs have reached a scale at which they could have a significant economic impact if they were to fail.
| Author | : Mr.Tobias Adrian |
| Publisher | : International Monetary Fund |
| Total Pages | : 20 |
| Release | : 2019-07-15 |
| Genre | : Business & Economics |
| ISBN | : 1498324908 |
Download The Rise of Digital Money Book in PDF, ePub and Kindle
This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
| Author | : Ms.Ratna Sahay |
| Publisher | : International Monetary Fund |
| Total Pages | : 83 |
| Release | : 2020-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1513512242 |
Download The Promise of Fintech Book in PDF, ePub and Kindle
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
