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Central Bank of Nigeria to Establish Regulatory Council for Islamic Finance
The CBN said, “An essential governance structure and element of regulatory oversight for institutions offering non-interest (Islamic) financial services is the establishment of an advisory body at the level of the Central Bank to provide assurance that the strategic direction and conduct of financial transactions of Non-Interest (Islamic) Financial Institutions (NIFIs) are in compliance with the rules and principles underpinning their operations.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- regulations
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Safaricom Will Reduce Investment if Kenyan Regulators Move to Limit Its Dominance
Safaricom Ltd. will cut its planned $400 million investment in East Africa’s biggest economy this year if Kenyan regulators impose penalties on the wireless carrier to limit its market dominance, its chief executive officer said.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Swiss Prosecutor Raids HSBC Office, Opens Criminal Inquiry
Geneva's public prosecutor searched HSBC's (HSBA.L) lakeside Swiss office on Wednesday after opening a criminal inquiry into allegations of aggravated money laundering, the second probe to hit the bank this week.
- Categories
- Uncategorized
- Region
- Europe & Eurasia
- Tags
- regulations
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New Financial Inclusion Innovation in Colombia: Government approves electronic deposits through non-bank entities
Colombia has included financial inclusion as a priority in its national agenda since a very early stage. Last fall, the Colombian Congress took the latest step, passing a law creating a new type of financial institution called Specialized Electronic Deposit and Payment Institutions. The Alliance for Financial Inclusion spoke with a Colombian regulator about the new law.
- Categories
- Finance, Impact Assessment
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Vodafone says policy shortcomings, lack of awareness derailing mobile money growth in India
Vodafone India has said that regulatory hurdles and lack of financial inclusion awareness is limiting the growth of mobile money, at a time when the government is pushing for greater financial inclusion.
- Categories
- Uncategorized
- Region
- South Asia
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Rwanda: Central Bank Approvals Delay Crossborder Mobile Money Service
The infrastructure to facilitate the service is ready, but there have been delays in getting the necessary regulatory approvals by the central banks in Rwanda, Kenya and Uganda.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Eight Tech and Policy Trends That Will Impact Financial Inclusion This Year
The use of digital financial services will continue to be one of the main drivers for financial inclusion in 2015, says John Owens of the Alliance for Financial Inclusion (AFI). He discusses eight interesting trends AFI has noted - both on the technology and policy sides - that should have a direct impact on advancing financial inclusion through digital means this year.
- Categories
- Technology
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