El Salvador finalises mobile money legislation

10 Jan 2014

The Central Reserve Bank (BCR) of El Salvador is in the final stages of preparing a new regulatory framework for mobile financial services, El Salvador newspaper reports. The new legislation will allow wireless operators to establish a sister company dedicated to the provision of mobile financial services, which will enable customers to make top-ups, withdraw and deposit funds, and pay bills. The provision of such services will be regulated by the Superintendencia del Sistema Financiero (SSF). The new regulatory framework requires the approval of the Legislature before it enters into force.

El Salvador,

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