[kictanet] Kenya IGF 2011 Discussions Day 2 of 10 Mobile Payment Platforms

[Lucy Kimani]

Victor,

Agreed public interest is paramount in any policy regulatory framework for example protection for the consumers by requiring the mobile companies to carry insurance in order to protect and promote public confidence in the Mobile payments.  Similar to the FDIC here in the US that insures depositors for at least $250,000 per insured bank; the FDIC identifies, monitors and addresses risks to the insurance funds limiting the effect on the economy and in case a bank fails.  Somebody correct me if I am wrong but to my surprise CBK doesn't seem to have a simillar risk management framework in place for consumer protection should a Bank fail in Kenya?       

LK
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