Knowledge Exchange Insights are compelling first-hand accounts from AFI members that successfully used knowledge exchange grant to seek the policymaking experience of other members in the AFI network.
Mobile money services in Tanzania developed in a regulatory environment without a National Payment Systems Act and existing guidelines for electronic payment schemes did not provide adequate guidance on mobile financial services. The Bank of Tanzania (BOT) wanted to adopt a regulatory framework for mobile financial services that would both strengthen and institutionalize the role of MNOs and serve as a road map for implementing and managing new technologies in the financial sector.
To do this, the BOT looked to a banking institution with experience regulating mobile financial services - The Bangko Sentral ng Pilipinas (BSP) in the Philippines. This Knowledge Exchange Insights piece highlights the important lessons and insights gained from the BOT’s visit to learn from BSP.