In 2015, Pakistan became the first country to leverage biometric SIM verification for remote mobile wallet account opening. We talked to members of the Banking Policy and Regulation Department at the State Bank of Pakistan to learn more about these developments and the exciting implications for financial inclusion.
Mobile money and banking agents blend seamlessly into the daily economic lives of consumers in countries like Kenya and Uganda, offering convenience and expanding access points to financial services. But agent exclusivity clauses can limit customers' choices.
In 10 years of research into regulatory issues surrounding digital financial services, CGAP has maintained a relatively consistent stance on the "basic regulatory enablers" necessary for DFS to flourish. CGAP’s Inclusive Markets Team has now started to examine "emerging regulatory enablers" and their role in DFS.