Telecoms and Banks lock horns over mobile banking in Zimbabwe
Tuesday, November 26, 2013
The Bankers Association of Zimbabwe (BAZ) and the country’s mobile telecommunication firms offering mobile banking services are headed for a clash as bankers say there is no legal framework regulating the practice.
BAZ urgues that doing so is tantamount to “opening up the sector to unacceptable practices” and the services should be stopped.
Zimbabwe’s three mobile phone network operators, Econet, Telecel and NetOne all run mobile money transfer services, to the chagrin of the bankers, who say this must be halted.