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Regulatory Framework for Digital Financial Services in Côte d’Ivoire : A Diagnostic Study (Inglês)

Côte d’Ivoire is a regional leader in digital financial services (DFS), particularly in the use of mobile money. It has a high rate of mobile phone penetration, and a more modest rate of formal financial inclusion. Mobile network operators (MNOs) have been the lead players thus far. They account for three of the five mobile money deployments and the majority of agents. MNOs have mainly partnered with banks that issue e-money. However, in the wake of recent regulatory changes, MNOs are moving to establish e-money subsidiaries. Over-the-counter (OTC) services providers, who provide affordable transfer services to clients, including those without digital accounts, are also significant. Any discussion of legal or policy matters in Côte d’Ivoire must pay close attention to the rules laid down by the West African regional institutions of which that country is a member. In this paper, we are principally concerned with the West African Economic and Monetary Union (WAEMU), a currency union and evolving free trade zone. Policy makers at the national and regional (WAEMU) level are taking steps to expand DFS access. Regulation plays a critical role in the development and spread of DFS. This paper offers an analysis of the regulatory framework for DFS in Côte d’Ivoire, including its coverage, its conducive features, and its gaps and obstacles.

Detalhes

  • Autor

    Meagher,Patrick

  • Data do documento

    2017/11/01

  • TIpo de documento

    Report

  • No. do relatório

    133236

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Mundo,

  • Região

    Other, Regiões Mundiais,

  • Data de divulgação

    2018/12/31

  • Disclosure Status

    Disclosed

  • Nome do documento

    Regulatory Framework for Digital Financial Services in Côte d’Ivoire : A Diagnostic Study

  • Palavras-chave

    Global Partnership for Financial Inclusion; payment and settlement system; mobile money; consumer protection; means of payment; automatic teller machine; financial consumer protection; nonbank financial institution; external service provider; regulation and supervision; interest rate cap; Payments for Services; payment system; council of minister; array of service; adult literacy rate; source of revenue; point of service; terms of competition; free trade zone; money transfer service; restraint of trade; case of fraud; seller of good; cost of service; supply of service; access to mobile; certification service provider; conditions of access; internet service provider; financing of terrorism; deposit guarantee system; deposit guarantee scheme; scope of coverage; Type of Investment; payment regulation; personal data; Financial Sector; consumer complaint; regional market; Payments to Companies; financial company; mobile network; microfinance institution; digital device; equal amount; payment instrument; Competition Regulation; legal authority; Regulatory Bodies; regulatory body; regulatory response; retail payment; regulatory regime; digital divide; account structure; microfinance regulation; credit provider; demand deposit; basic banking; client identification; digital finance; regulatory change; identity documents; business relationship; account opening; market infrastructure; currency union; prudential requirements; cross-border remittance; market development; telecoms regulator; monetary policy; joint inspections; voluntary agreement; market player; minimum share; financial system; digital transmission; shared benefit; road map; reliable access; identity data; communications channel; data service; paid-up capital; fair competition; financial legislation; regulatory authority; transferring fund; digital access; risk indicator; transparent dealing; fraudulent transaction; id requirement; phone number; corporate security; diagnostic study; card transactions; national policy; anonymous account; client information; false documentation; Terrorism Financing; money laundering; cash transaction; service company; housing finance; legal information; sensitive data; electronic transaction; reporting requirement; monthly reports; transaction account; capital ratio; capital requirement; consumer law; contractual provision; contract provision; E-Commerce Law; payment order; written agreement; fee schedule; financial product; transfer amount; online platform; DEC Policy Review; digital security; digital communication; data handling; private investment; retail store; internet connection; administrative service; discriminatory pricing; regulatory constraint; transaction value; rural area; civil conflict; bill payment; account statement; competition authority; tax treatment; fiscal legislation; specific issue; uniform rate; financial market; risk asset; commercial bank; prudential objectives; digital channel; loan product; credit institution; transparency requirement; savings product; national authority; banking deposit; price list; regulatory features; affiliate company; price discrimination; nondiscriminatory basis; telecom sector; rural population; Mobile Wallet; delivery infrastructure; regulatory oversight; standard requirement; credit account; identity verification; regional competition; government pay; registration fee; low-income people; digital signature; national rules; corporate governance; direct supervision; financial guarantee; money supply; national system; Banking Law; financial platform; cash preference; regulatory obstacles; credit service; Electronic Money; electronic form; severely limits; open account; funds transfer; domestic authority; national legislation; digital means; electronic processes; service contract; credit agreement; bank payment; supervisory authority; registered company; distribution network; regulatory requirement; insurance provider; savings service

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