Publication: Supervising Nonbank E-Money Issuers
Nonbank e-money issuers (NEMIs) can play an important role in providing an array of financial services - particularly payments, transfers, and savings - for those who are currently excluded from the formal financial system. In some countries, private sector interest in establishing NEMI operations has been hindered by policy maker concerns over the lack of a clear supervisory framework for this relatively new category of financial institution. In light of this, CGAP researched the current supervisory practice in 10 countries that permit NEMIs and found that while few have a clear supervisory approach, all engage in minimal post-licensing supervision.
“Lauer, Kate; Tarazi, Michael. 2012. Supervising Nonbank E-Money Issuers. CGAP brief;. © CGAP, Washington, DC. http://openknowledge.worldbank.org/handle/10986/17100 License: CC BY 3.0 IGO.”