This Act provides for the supervision and regulation of financial institutions. It applies to bank or deposit taking microfinance institutions. Entities eligible as agents include: agro dealers, pharmacies, partnerships, retail shops, and limited liability companies, among others.
This law turns agent banking into a cost effective delivery channel for banking services, gives a regulatory framework for offering bank agent services, and for providing standard in data and network security, customer protection and risk management.
This regulation lists all approved and forbidden activities to be carried out by regulators.