The National Bank of Rwanda (NBR) will regulate the new mobile money transfer system that will soon be introduced by MTN Rwanda, the Central Bank Governor Francois Kanimba said.
Francois Kanimba said MTN has approached the National Bank of Rwanda and that the bank has issued MTN a license of operation based on MYN satisfying the operations criteria.
“It is important that this system be regulated because it is for the public interest and there is need to safeguard public interest,” explained Kanimba. The new system will be regulated through the laws governing the payment service providers and the payment system laws.
However, the timeframe in which this will start operations is not yet known as MTN is still working on the project which is expected to commence in the near future. The new service will help MTN subscribers transfer money between each other. Read the rest of this entry »
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