Across the world mobile money schemes are being launched. In such schemes financial service providers interact with clients via mobile phones or other mobile devices such as tablets. Service offerings include payments and saving as well as basic insurance products and sometimes credit based on...

M-PESA is a small-value electronic payment and store of value system that is accessible from ordinary mobile phones. It has seen exceptional growth since its introduction by mobile phone operator Safaricom in Kenya in March 2007: it has already been adopted by 14 million customers (corresponding...

Unlike prudential regulations that are put in place prospectively to develop banks, procedures for dealing with banks in distress are generally determined on ad hoc basis. Often the lack of clarity in the policy framework creates incentives for bank managers, shareholders, depositors, and...

While expansive literature on central bank independence contains some criticisms to the independent central bank quasi-paradigm, few critical analyses have been undertaken in the years between Friedman (1962) and Posen (1994). The author extends Posen's analysis to developing countries,...