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Oversight Issues In Mobile Payments

Oversight Issues in Mobile Payments PDF
Author: Tanai Khiaonarong
Publisher: International Monetary Fund
ISBN: 1498331572
Size: 69.73 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 35
View: 4111

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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.

Oversight Issues In Mobile Payments

Oversight Issues in Mobile Payments PDF
Author: Tanai Khiaonarong
Publisher: International Monetary Fund
ISBN: 1498392059
Size: 70.51 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 35
View: 292

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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.

Bitcoin And Mobile Payments

Bitcoin and Mobile Payments PDF
Author: Gabriella Gimigliano
Publisher: Springer
ISBN: 1137575123
Size: 57.30 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 314
View: 1073

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This book provides a critical analysis of The European Union’s regulatory framework for mobile payments and bitcoin. Chapters discuss the creation of the EU single market for e-payments and combine legal analysis with comparative case studies in their exploration of the regulatory challenges surrounding e-payments. The contributing authors analyse the key economic and legal issues of the development of bitcoin and mobile payments within the EU framework through a comparative lens. They cover topics ranging from user data and funds protection and the stability of the payment system to the competitiveness of the EU market. Providing a comprehensive and methodological guide to the bitcoin and mobile payments in Europe, this book will prove an illuminating and informative read for academics, students and policy makers with an interest in the impact of innovation on payment systems.

Fintech Regulation In China

Fintech Regulation in China PDF
Author: Robin Hui Huang
Publisher: Cambridge University Press
ISBN: 1108860591
Size: 56.39 MB
Format: PDF, ePub, Mobi
Category : Law
Languages : en
Pages :
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This is the first book-length treatment of the regulation of financial technology (Fintech) in China. Fintech brings about paradigm changes to the traditional financial system, presenting both challenges and opportunities. At the international level, there has been a fierce competition for the coveted title of global Fintech hub. One of the key enablers of success in this race is regulation. As the world's leader in Fintech, China's regulatory experience is of both academic and practical significance. This book presents a systematic and contextualized account of China's Fintech regulation, and in doing so, tries to identify and analyze relevant institutional factors contributing to the development of the Chinese law. It also takes a comparative approach to critically evaluating the Chinese experience. The book illustrates why and how China's Fintech regulation has been developed, if and how it differs from the rest of the world, and what can be learned from the Chinese experience.

Law And Regulation Of Mobile Payment Systems

Law and Regulation of Mobile Payment Systems PDF
Author: Joy Malala
Publisher: Routledge
ISBN: 1351728571
Size: 66.94 MB
Format: PDF, ePub
Category : Law
Languages : en
Pages : 272
View: 1281

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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.

West African Economic And Monetary Union

West African Economic and Monetary Union PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475567596
Size: 39.52 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 70
View: 2925

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This Selected Issues paper on West African Economic and Monetary Union presents external stability assessment report. The current account deficit declined in 2014. Although gross international reserve coverage has increased slightly, part of the current account deficit has been financed by a decline in commercial banks’ net foreign assets. Contingent on the implementation of government’s consolidation plans, and helped by a favorable oil price outlook, the current account deficit would further gradually decline and be matched by enough financial inflows in the medium term. According to various metrics, the real exchange rate appears to be broadly aligned with fundamentals. International reserve coverage should increase to provide stronger buffers against immediate short-term risks. Structural competitiveness and investment efficiency improvements will be essential to ensure that the planned large investment programs translate into growth and export gains as well as increased private inflows into the region.

Building Integrated Economies In West Africa

Building Integrated Economies in West Africa PDF
Author: Mr.Alexei P Kireyev
Publisher: International Monetary Fund
ISBN: 1513511831
Size: 76.69 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 402
View: 5457

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The West African Economic and Monetary Union (WAEMU) has a long and varied history, and this book examines how the WAEMU can achieve its development and stability objectives, improve the livelihood of its people, and enhance the inclusiveness of its economic growth, all while preserving its financial stability, enhancing its competitiveness, and maintaining its current fixed exchange rates.

International Monetary Fund Annual Report 2016

International Monetary Fund Annual Report 2016 PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475517076
Size: 20.93 MB
Format: PDF, Docs
Category : Business & Economics
Languages : de
Pages : 90
View: 7225

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The year was marked by difficult challenges and milestone achievements. To reinvigorate modest growth at a time of uncertainty about a complicated global economy, the IMF membership endorsed a three-pronged approach of monetary, fiscal, and structural policies to get the world economy back on a stronger and safer growth track. Highlights of the IMF’s work during the year included entry into effect of its quota and governance reforms approved in 2010, which increase the Fund’s core resources and make it more representative of the membership; commitments for increased financial support, policy advice, expertise, and training to help low-income developing countries achieve the U.N. Sustainable Development Goals; analysis of the international monetary system; inclusion of the Chinese currency in the basket of currencies that make up the Special Drawing Right; and policy advice on the economic repercussions of mass migration of refugees from Syria and other conflict-afflicted states. The IMF Annual Report, which covers the period May 1, 2015 to April 30, 2016, discusses all of these issues, plus a wide range of policy matters that the Executive Board addressed during the year.

Fintech In Sub Saharan African Countries

FinTech in Sub Saharan African Countries PDF
Author: Mr.Amadou N Sy
Publisher: International Monetary Fund
ISBN: 1484385667
Size: 76.38 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 61
View: 7558

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FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.

Guinea Bissau

Guinea Bissau PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 151354151X
Size: 23.73 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 49
View: 1805

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This Selected Issues paper aims at identifying some of the main channels of transmission through which political instability feeds and foster fragility and provide an estimate of the “fragility gap” that haunts the Bissau-Guinean society. This paper argued that, until today, due to chronic political instability, Guinea-Bissau has been in a costly fragility trap. This analytical piece argues that the major factor behind Guinea-Bissau’s fragility has been the chronic political instability. It also uncovers some of the main transmission channels from political instability to fragility and provides simple estimates about the cost of instability. Estimates based on reasonable assumptions reveal that, considering only Guinea-Bissau’s post-war period, without chronic political instability real GDP per capita could have been at least two thirds higher than its 2013 level. This assessment shows the crucial importance of the security sector reform. It also shows that the current estimated cost of the security sector reform is modest in comparison, since it puts into perspective its monetary costs—which are easy to calculate and mostly frontloaded—vis-à-vis its wide and deep benefits, which are not as explicit and accrue over time.

Fintech Inclusive Growth And Cyber Risks Focus On The Menap And Cca Regions

Fintech  Inclusive Growth and Cyber Risks  Focus on the MENAP and CCA Regions PDF
Author: Ms.Inutu Lukonga
Publisher: International Monetary Fund
ISBN: 1484376544
Size: 57.44 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 51
View: 1151

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Financial technology (fintech) is emerging as an innovative way to achieve financial inclusion and the broader objective of inclusive growth. Thus far, fintech in the MENAP and CCA remains below potential with limited impact on financial inclusion. This paper reviews the fintech landscape in the MENAP and CCA regions, identifies the constraints to the growth of fintech and its contribution to inclusive growth and considers policy options to unlock the potential.

United Republic Of Tanzania

United Republic of Tanzania PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498391176
Size: 36.38 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 57
View: 3033

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This Selected Issues paper analyzes the financial sector in Tanzania. The Tanzanian financial system has a number of characteristics commonly seen in other low-income countries. The system is relatively small, dominated by banks, and has not been particularly inclusive. Costs related to basic financial services have come down. However, in other areas, progress remains limited. Firms’ access to credit remains a problem, access to the financial infrastructure continues to lag, and market development remains at a low level. The banking system overall is well-capitalized and reasonably profitable, but there is considerable variation among bank categories.

Financial Development In Sub Saharan Africa

Financial Development in Sub Saharan Africa PDF
Author: Mr.Montfort Mlachila
Publisher: International Monetary Fund
ISBN: 1475532407
Size: 22.28 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 79
View: 2515

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This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.

Mali Technical Assistance Report Anti Corruption And Anti Money Laundering

Mali  Technical Assistance Report Anti Corruption and Anti Money Laundering PDF
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1513531247
Size: 13.36 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 55
View: 4909

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This paper discusses key finding of the Technical Assistance Report on Anticorruption and Anti-money Laundering in Mali. The report suggests that the adoption and effective implementation of an Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework compliant with the Financial Action Task Force (FATF) Recommendations would support the fight against corruption in Mali. Mali can improve the compliance of its AML/CFT framework with the FATF Recommendations by taking internal measures consistent with the West African Economic and Monetary Union directive. Mali can also work for the adoption of a regional AML/CFT framework consistent with the requirements of the FATF.

Imf Research Bulletin September 2014

IMF Research Bulletin  September 2014 PDF
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1498340040
Size: 21.98 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 18
View: 1367

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This issue of the IMF Research Bulletin opens with a letter from the new editor, Rabah Arezki. The Research Summaries are a "Primer on 'Global Liquidity'" (Eugenio Cerutti, Stijn Claessens, and Lev Ratnovski); and "Trade Integration adn Business Cycle Synchronization" (Kevin Cheng, Romain Duval, and Dulani Senevirante). The Q&A column looks at "Seven Questions on the Global Housing Markets" (Hites Ahir, Heedon Kang, and Prakash Loungani). September 2014 issue of the Bulletin also includes updates on IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as special announcements on new staff publications and the Fifteenth Annual Jacques Polak Research Conference. Also included is information on the latest issue of “IMF Economic Review” with a link to an article by Paul Krugman.

Recent Trends In Correspondent Banking Relationships

Recent Trends in Correspondent Banking Relationships PDF
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498346901
Size: 30.35 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 58
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Correspondent banking relationships (CBRs), which facilitate global trade and economic activity, have been under pressure in several countries. So far, cross-border payments have remained stable and economic activity has been largely unaffected, despite a recent slight decrease in the number of CBRs. However, in a limited number of countries, financial fragilities have been accentuated as their cross-border flows are concentrated through fewer CBRs or maintained through alternative arrangements. These fragilities could undermine affected countries’ long-run growth and financial inclusion prospects by increasing costs of financial services and negatively affecting bank ratings.

Monetary Policy And Models Of Currency Demand

Monetary Policy and Models of Currency Demand PDF
Author: Mariam El Hamiani Khatat
Publisher: International Monetary Fund
ISBN: 1484342631
Size: 26.25 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 55
View: 6643

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Two types of currency in circulation models are identified: (1) a first generation derived from the theory of money demand and (2) a second generation aimed at producing daily forecasts of currency in circulation. In this paper, we transform the currency demand function into a VAR to capture the dynamic link between interest rates and the demand for cash. We also apply ARIMA modeling to forecast the daily currency in circulation for Brazil, Kazakhstan, Morocco, New Zealand, and Sudan. Our empirical work shows that some of the conclusions in the economic literature on the impact of interest rates on the demand for currency do not necessarily hold, and that central banks would benefit from running both generations of currency in circulation models. The fundamental longer-run determinants of the demand for cash are distinct from its short-run determinants.

Sustaining More Inclusive Growth In The Republic Of Congo

Sustaining more Inclusive Growth in the Republic of Congo PDF
Author: Ms.Dalia S Hakura
Publisher: International Monetary Fund
ISBN: 1498317707
Size: 33.16 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 44
View: 3092

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The Republic of Congo has seen dramatic improvement in its debt situation since 2010, following debt relief through the IMF and World Bank Heavily Indebted Poor Countries/Multilateral Debt Relief Initiative. Large oil revenues have allowed the country to boost spending and increase foreign exchange reserves. Yet poverty and inequality remain comparatively high. This paper examines Congo’s challenge to manage its natural resource revenue and attain sustained inclusive growth.