Regulation of Mobile and Agent Banking Services National Bank of Ethiopia Directives No. FIS /0112012

LICENSING AND SUPERVION OF THE BUSINESS OF FINANCIAL INSTITUIONS DOWNLOAD (.pdf)

Regulation of Mobile and Agent Banking Services

Directives No. FIS /0112012

Whereas, use of technology and innovative financial service delivery channels such as mobile devices and agents have significant contribution in deepening financial service accessibility to the wider section of the population at an affordable price;

Whereas, it has been found essential to encourage and enhance savings mobilization through the use of alternative and innovative financial services delivery channels;

Whereas, there is a need to set the minimum standards for risk management and customer protection on the delivery of mobile and agent banking services;

Whereas, the National Bank of Ethiopia is responsible for ensuring , that financial institutions are delivering mobile and agent banking services without compromising the safety and soundness of the financial system of the country;

Now, therefore, in line with the powers vested in it by article 10 (5) of National Payment System Proclamation No. 718/2011 and article 59 (2) of Banking Business

Proclamation no. 592/2008, the National Bank of Ethiopia has issued these directives. Continue reading Regulation of Mobile and Agent Banking Services National Bank of Ethiopia Directives No. FIS /0112012