Year: 2017

Safaricom blocks KRA from accessing M-Pesa accounts – Business Today News

Tax authorities seeking unfettered access to mobile money records – that is what every government tax intake authority has been waiting for. The digital footprint of your money, which previously was unavailable in the cash-only economy. As more and more countries embrace electronic (mobile) money, one cannot help but look at the drooling faces of …

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Why check-cashing stores are a good deal, according to a UPenn professor – Business Insider

This is a superb article. Something very close to my heart – field research. There is nothing that can substitute a visit to the field to understand the subtle nuances that make a product &/or service what it is, but watching the interaction between the company and its customer. I’ve written about this in the past: The Migrant …

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The Philippines Has Decided to Regulate Bitcoin Exchanges as Remittance Companies – Cryptonight

I’ve always maintained a stance that unregulated money days are never going to be months (read: Bitcoin Remittance Transfers: What Central Banks look for in Remittances?). They will be the short equivalent of weeks. Bitcoin is no exception. Recently one of the darling countries with regards to Bitcoin, Philippines, has decided to regulate bitcoins. Our good …

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BBC World Service – 50 Things That Made the Modern Economy

A fantastic podcast series put out by the BBC: 50 things That Made the Modern Economy as narrated by Tim Harford. Great listen.  There are two particular episodes of interest: M-PESA (Listen) The Bank (Listen) I think after NPR’s Planet Money, this is perhaps the next best thing I’ve heard. Inventions, ideas and innovations which …

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Report by AUSTRAC on Bank de-risking of remittance businesses

AUSTRAC (the Australian Financial Regulator) recently released a report on the Bank de-risking of Remittance Businesses in Australia. The short 14-page report very well summarizes the statistics of remittance in Australia with respect to RNPs (Remittance Network Providers) and also provides some interesting insights based on the AUSTRAC survey of RNPs and banks on de-risking.  You …

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Foreign Correspondent Banking – Regulators Encourage U.S. Banks to Keep Doing It, But Their Regulations Have Been Discouraging – Lexology

Foreign Correspondent Banking: The three dreaded words that hang like the Damocles Sword on every foreign bank wanting to trade with the United States for US Dollar clearing & settlement. This is a great article that highlights the issues surrounding the shrinking supply of foreign correspondent banks. In addition to this article, I would also highly …

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