Introduction

Chatain, Pierre-Laurent; Zerzan, Andrew; Noor, Wameek; Dannaoui, Najah; Koker, Louis de

doi:10.1596/9780821386699_intro

Cited by 2 publications

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“…Since MNOs are not conducting banking business, they are not covered with deposit insurance scheme. Unlike banks and other financial entities, MNOs are neither prudentially regulated nor supervised by financial oversight bodies and as such not subject to strict liquidity and capital requirements (Chatain, 2011). Under this situation, if a mobile payment provider collapses, user funds may be at increased risk.…”

Section: Legal and Regulatory Challenges For The Convergence Of Finan...mentioning

confidence: 99%

Legal and regulatory framework for mobile banking in Tanzania

Ally

2023

IJLMA

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Purpose This paper aims to assess the legal and regulatory framework for mobile banking (M-banking) in Tanzania. The technological development in information and communication technologies has converted a mobile phone from a simple communication device to a very complex instrument that allows people to perform various digital transactions and extra operations such as web browsing and email reading. Such tremendous developments have brought in place the regime of M-banking. The birth of M-banking has brought legal and institutional challenges that were not anticipated before. It has complicated the traditional role of the telecommunication regulator and financial regulator in the business and caused legal gaps that need to be bridged. Design/methodology/approach To disclose the legal gaps and bridge them, the study used doctrinal legal method and comparative study to learn the experience of international legal instruments and policies and laws of other jurisdictions. This paper has evaluated the contribution of international legal instruments and legal frameworks of foreign jurisdictions such as Kenya and the Philippines. Findings It has been revealed that the prevailing laws regulating M-banking in Tanzania do not adequately address and bridge the existing legal gaps. There is a need to enact a specific law regulating M-banking and confer such powers to a specific institution to deal with regulatory issues. Originality/value This paper stresses the importance of enacting new laws that will offer room for financial inclusion in the digital economy and protect consumers against financial risk. It also intends to act as a catalyst and change agent in policy and legislative development in the M-banking industry. It would also bring special attention to addressing consumer rights, security and risky issues surrounding the M-banking industry. Although several other authors in Tanzania have written in this area, they have not clearly focused on disclosing the existing legal gaps resulting from the convergence of the financial and communication sectors. This paper is therefore trying to offer an extensive discussion on the legislative development in the M-banking industry in Tanzania.

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Section: Legal and Regulatory Challenges For The Convergence Of Finan...mentioning

confidence: 99%

Legal and regulatory framework for mobile banking in Tanzania

Ally

2023

IJLMA

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“…However, like any new technology, the adoption and use of mobile money are faced with some challenges or bottlenecks. Particularly, concerns have been raised at the global level about the integrity of mobile money services and the risk it poses for fraud, money laundering and terrorist financing (Chatain et al , 2011). For end users with low digital literacy, the unsafe practice of sharing m-wallet details with third parties remains the main source of risk.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of mobile money access on internal remittances, consumption expenditure and household welfare in Ghana

Baffour

Rahaman

Mohammed

2020

JEAS

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PurposeThe purpose of this study is to examine the impact of mobile money access on internal remittances received, per capita consumption expenditure and welfare of household in Ghana.Design/methodology/approachThe study used data from the latest round of the Ghana Living Standards Survey (GLSS 7) and employed the propensity score matching technique to estimate average treatment effect between users and non-users of mobile money transfer services.FindingsThe study finds that using mobile money is welfare enhancing, particularly for poor households and the channel by which it impacts on welfare is through higher internal remittances received and per capita expenditure. The results from the average treatment effect indicate that mobile money users receive significantly higher remittances and consequently spend averagely higher on consumption than non-users.Research limitations/implicationsAlthough the data employed in this study is limited to one country, the findings support the financial inclusion role and developmental impact of mobile money transfer services. Hence, mobile money transfer services should be promoted and facilitated by the telecommunication and financial sector regulators.Originality/valueIn addition to making original contribution to the literature on the welfare impact of mobile money, the study's use of the propensity score matching is unique.

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Introduction

Cited by 2 publications

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Legal and regulatory framework for mobile banking in Tanzania

Legal and regulatory framework for mobile banking in Tanzania

Impact of mobile money access on internal remittances, consumption expenditure and household welfare in Ghana

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