Sri Lanka to regulate m payments?

Posted on January 4, 2009  /  1 Comments

One hopes of course that this will not detract from the Central Bank’s work on bringing inflation down to single digits and rebuilding trust in the banking system.

Sri Lanka will issue new rules covering financial transactions through mobile phones, Central Bank Governor Nivard Cabraal said, as the island’s fast growing celcos join banks to offer new payment methods.

“Given the increased usage of mobile phones for financial transactions, the Central Bank intends to issue new operating guidelines for mobile payments during 2009,” Cabraal said in an annual policy speech Friday.

He said the move was part of an overall effort to improve the confidence in electronic payments, which would also cover payment cards.

Full report.

1 Comment

  1. I introduced palmtop banking but will be behind bars soon.