The Regulation of Mobile Money : Law and Practice in Sub-Saharan Africa

Resource Information

The work The Regulation of Mobile Money : Law and Practice in Sub-Saharan Africa represents a distinct intellectual or artistic creation found in European University Institute Library. This resource is a combination of several types including: Work, Language Material, Books.

Label

The Regulation of Mobile Money : Law and Practice in Sub-Saharan Africa

Title remainder

Law and Practice in Sub-Saharan Africa

Statement of responsibility

by Sunduzwayo Madise

Creator

• Madise, Sunduzwayo

Author

• Madise, Sunduzwayo

Subject

• Economic development projects-Finance
• International finance
• Banks and banking
• Management

Language

eng

Summary

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.--

Member of

• Palgrave Macmillan Studies in Banking and Financial Institutions,

Assigning source

Provided by publisher

Image bit depth

0

Literary form

non fiction

Nature of contents

dictionaries

Series statement

• Springer eBooks.
• Palgrave Macmillan Studies in Banking and Financial Institutions,