The Communications Authority of Kenya, in an attempt to clamp down on fake phones, has released a draft document on proposed minimum features and technical specifications for mobile cellular devices to be sold in Kenya. Interested parties and the general public can submit their input before January 13 2018. Minimum standards include those for battery life, provision of headsets, and warranties.
The Reserve Bank of Malawi has issued a new Directive to provide a legal framework for interoperability among financial institutions. Recent advancement on financial technology is emphasized, and the role of Natswitch is highlighted in this directive.
The CBN in October 2017 issued a revised framework for BVNs, and also established a watch-list program for Nigerian Banking Industry to address the increasing incidences of fraud with a view to engendering public confidence in the banking industry.
Payment Instruments (Oversight) Regulations were developed by the Central Bank of The Bahamas. The regulations identify process of validating payment institutions, and their capabilities within the legal frame. The ultimate authority to regulate payment institutions is given to the Central Bank of The Bahamas.
The Central Bank of The Bahamas fortifies guidelines to prevent money laundering and financing terrorism. This guideline will be juxtaposed to the existing Bahamian Anti-Money Laundering law, and provide detailed strategies, such as internal controls, and customer identity verification.
The Reserve Bank of India has published a circular containing a draft for comments of the Master Directions on Issuance and Operation of Prepaid Payment Instruments in India (issued under Section 18 read with Section 10(2) of Payment and Settlement Systems Act, 2007.) Such Master Directions facilitate the Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers to have all the extant instructions on the subject at one place.
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