[kictanet] Banks’ plan to set up mobile money transfer platform stalls - Corporate News

[John Kieti]

Hello All.

The regulator should work with the banks to open that new space. Imagine
the charges you incur to "download" cash from your bank account to your
mpesa account. Then you still have to incur a charge to transfer that money
to an individual or buy fuel with lipa na mpesa. I hope the banks'
innovation can help eliminate that second layer of charges borne by
consumers.

Best!

On Jan 4, 2017 10:18, "Ali Hussein via kictanet" <
kictanet at lists.kictanet.or.ke> wrote:

> Listers
>
> This is an interesting one. An excerpt from the story in the Business
> Daily:-
>
> The *Business Daily* has learned that KBA member banks submitted their
> product and system proposals to the CBK in July ahead of the planned August
> launch date, seeking approvals.
>
> Such authorisations, which are ordinarily issued after a maximum of one
> month, are however yet to be issued, delaying the launch of a product that
> promises to revolutionise the financial services sector.
>
> Read on:-
> http://www.businessdailyafrica.com/Corporate-News/mobile-money-
> transfer-platform-stalls/539550-3505860-item-0-9h14j8/index.html
>
> As a matter of public interest it would be interesting to know why there's
> been such a delay in the regulatory approval of such a game changing
> initiative for the banking sector.
>
> Anyone who has an inkling on the workings at the Central Bank? It seems to
> me that 7 months waiting for an approval is simply too long...
>
>
> *Ali Hussein*
> *Principal*
> *Hussein & Associates*
> +254 0713 601113
>
> Twitter: @AliHKassim
>
> Skype: abu-jomo
>
> LinkedIn: http://ke.linkedin.com/in/alihkassim
>
>
> "Discovery consists in seeing what everyone else has seen and thinking
> what no one else has thought".  ~ Albert Szent-Györgyi
>
> Sent from my iPad
>
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