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An Alternative Regulatory Framework for Mobile Money

In: The Regulation of Mobile Money

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  • Sunduzwayo Madise

    (University of Malawi)

Abstract

This chapter proposes an alternative regulatory framework for mobile money. It emphasises the need to first delineate and delimit the regulatory arena and the key participants (mobile network operators, mobile money issuers, banks, regulators, consumers, the legal and political institutions). The chapter also argues that having a plethora of regulators is not ideal. It calls for a coherent regulatory framework where regulation can be an enabler to achieve financial inclusion. The chapter provides two possible solutions, an independent agency or streamlining existing regulators, and undertakes an analysis of the advantages and disadvantages of each. The chapter proposes setting up an autonomous agency within the central bank to regulator not only mobile money, but all forms of electronic money which are outside banking supervision.

Suggested Citation

  • Sunduzwayo Madise, 2019. "An Alternative Regulatory Framework for Mobile Money," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Regulation of Mobile Money, chapter 0, pages 305-347, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-13831-8_9
    DOI: 10.1007/978-3-030-13831-8_9
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