Publication

Regulatory Approaches to the Interest Earned on E-Money Float Accounts

What happens to interest earned on float accounts? CGAP believe that electronic money issuers should be allowed – but not required – to distribute some or all of the float interest to their e-money customers.
Publication

Open Banking: How to Design for Financial Inclusion

While many regulators in emerging and developing markets understand the potential benefits of open banking regimes, they are uncertain how to design them in ways that support financial inclusion. CGAP has identified 12 critical design components.
Data

Microfinance & COVID-19: Examples of Regulatory Responses Affecting Microfinance Providers

This table provides country examples for regulatory responses identified in the Briefing Microfinance and COVID-19: Principles for Regulatory Response.
COVID-19 Briefing

Microfinance and COVID-19: Principles for Regulatory Response

As a result of the COVID-19 outbreak, further policy steps have proven necessary, both within and beyond the financial sector, to mitigate the impacts of the pandemic on businesses and ordinary people. This Briefing applies five guiding principle to country contexts, and specifically addresses what each principle means for regulatory responses to the COVID-19 crisis.
Publication

How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers

When is a regulatory sandbox the best method for financial regulators to test innovative products and services? And how can they use a sandbox for advancing financial inclusion? CGAP’s new guide leads regulators step by step through the decision-making process.
COVID-19 Briefing

Microfinance and COVID-19: A Framework for Regulatory Response

A framework for identifying and assessing crisis responses must take account of the special characteristics of microfinance which leads to the question of how regulators should respond. A review of current practice in a range of countries suggests there are six key steps to be taken at the level of regulation and policy.
Slide Deck

Platform Business Models

Most “unicorn” companies are platforms. But what exactly are platforms? What are the main business models? Are to what extent are they relevant to financial inclusion for low-income customers? Explore the answers in this slide deck.
Publication

The Use of Agents by Digital Financial Services Providers

Agents play a crucial role in lowering the cost of delivery to reach the unbanked and underbanked population. An increasing number of countries, especially emerging markets and developing economies, allow a diverse array of banks and nonbank institutions to distribute digital financial services through agents.
Publication

Nonbank E-Money Issuers vs. Payments Banks: How Do They Compare?

A special licensing category for nonbank e-money issuers is considered a key regulatory enabler for inclusive digital financial services. This Technical Note compares the EMI license with the payments bank license that India, Mexico and Nigeria have created.
Publication

Fair Play: Ensuring Competition in Digital Financial Services

In addition to the behavior of market actors, regulation can have a substantial impact on the dynamics of competition in digital financial services markets. CGAP examines some regulatory levers that policy makers can deploy to promote more competition in emerging economies.