BoZ, ZICTA sign deal
Published On November 25, 2014 » 2417 Views» By Davies M.M Chanda » Business, Stories
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. Mabula-Kankasa

. Mabula-Kankasa

By JUDITH NAMUTOWE? –
THE Bank of Zambia (BoZ) and Zambia Information and Communications Technology Authority (ZICTA) have signed a Memorandum of Understanding?(MoU) to facilitate growth of mobile financial services in the country.
BoZ deputy Governor administration Tukiya Mabula-Kankasa said it was expected that the cooperation and exchange of information between the central bank and ZICTA would facilitate growth of mobile financial?services in a safe and sound environment in Zambia.
“The MoU provides for the establishment of a comprehensive framework for cooperation and exchange of information and mutual assistance?between the two regulatory authorities.
In particular the area of cooperation and exchange of information under this MoU will be the regulation and supervision of   mobile financial services,” Ms Kankasa said.
Ms Kankasa said the MoU was expected to play a vital role in driving financial inclusion in the country and expressed commitment to partnering with ZICTA and other stakeholders to provide an enabling regulatory environment in the country that fostered innovation and?financial inclusion.
“Zambia has a wide mobile network coverage which provides an opportunity for expansion of mobile financial services to reach the peri-urban and rural areas where traditional financial services are not able to reach,” she said.

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