Why a Regulatory Sandbox? Insights from Regulators in Kenya, Morocco and Philippines
In this webinar, the following panel of experts discussed how to implement a regulatory sandbox or whether to choose an alternate tool. Three regulators provided insights from their practical experiences with new approaches to managing financial innovation.
- Welcome remarks by Greta Bull, CEO, CGAP
- Shamiah M. Wyckliffe, CEO, Capital Markets Authority of Kenya
- Hakima El Alami, Director, Central Bank of Morocco
- Melchor T. Plabasan, Director, Central Bank of Philippines
- Sharmista Appaya, Senior Financial Sector Specialist, World Bank Group
- Schan Duff, Senior Policy Advisor, CGAP
- Moderated by Ivo Jeník, Financial Sector Specialist, CGAP
Listen to the audio recording:
Regulatory sandboxes have attracted significant attention for their potential to empower financial regulators struggling with fast-paced innovation. This webinar will explore three unique perspectives from the field. The Capital Markets Authority of Kenya decided to implement a regulatory sandbox, and after one year, the first firms have successfully graduated. The Central Bank of Philippines, which pioneered innovative regulatory approaches to mobile money over a decade ago, is now updating its toolkit with a sandbox-like approach. The Central Bank of Morocco, after evaluating different regulatory tools, decided not to implement a sandbox but rather to focus on other initiatives. These three regulators will explain their strategic decision-making process and offer practical insights into questions faced by regulators all around the world: Should I set up a sandbox? What type? How do I make it a success? What are the alternatives?
We will be joined by the leading experts and authors on fintech regulation -- Sharmista Appaya from the World Bank, and Ivo Jeník and Schan Duff from CGAP.
How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers by Ivo Jeník and Schan Duff
How Regulators Respond to FinTech: Evaluating the Different Approaches – Sandboxes and Beyond by Sharmista Appaya, et al.
CGAP Collection: Regulatory Sandboxes: A Tool for Fostering Financial Inclusion