News From Telecom World

Sri Lanka plans to issue new rules for mobile banking

Posted on: January 12, 2009

Sri Lanka has planned to issue new rules regarding the mobile banking as the mobile incumbents of the country are joining hands with various banks to offer new mobile banking initiatives.
“Given the increased usage of mobile phones for financial transactions, the Central Bank intends to issue new operating guidelines for mobile payments during 2009,” says Central Bank Governor Nivard Cabraal.
According to Cabraal, the move is a part of the overall effort to enhance the confidence in the mobile payments, which would also cover payment cards.
“The draft regulations on service providers of payment cards, giving specific powers to the Central Bank to regulate and supervise such service providers, would also be implemented to enhance the public confidence in electronic payments.” he added.

Source: Wireless Federation

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