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Article: Regulating Digital Financial Services Agents in Developing Countries to Promote Financial Inclusion
Title | Regulating Digital Financial Services Agents in Developing Countries to Promote Financial Inclusion |
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Authors | |
Keywords | Banking financial services developing countries digital financial services liability |
Issue Date | 2015 |
Publisher | National University of Singapore, Faculty of Law. The Journal's web site is located at http://www.law.nus.edu.sg/sjls |
Citation | Singapore Journal of Legal Studies, 2015, July, p. 26-45 How to Cite? |
Abstract | Limited access to bank branches excludes over one billion people from accessing financial services in developing countries. Digital financial services offered by banks and mobile money providers through agents can solve this problem without the need for complex and costly physical banking infrastructures. Delivering digital financial services through agents requires a legal framework to regulate liability. This article analyses whether vicarious liability of the principal is a more efficient regulatory approach than personal liability of the agent. Agent liability in Kenya, Fiji, and Malawi is analysed to demonstrate that vicarious liability of the principal, coupled to an explicit agreement as to agent rewards and penalties, is the more efficient regulatory approach. |
Persistent Identifier | http://hdl.handle.net/10722/279984 |
ISSN | 2023 SCImago Journal Rankings: 0.190 |
SSRN |
DC Field | Value | Language |
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dc.contributor.author | Gibson, E | - |
dc.contributor.author | Lupo-Pasini, F | - |
dc.contributor.author | Buckley, RP | - |
dc.date.accessioned | 2019-12-23T08:24:35Z | - |
dc.date.available | 2019-12-23T08:24:35Z | - |
dc.date.issued | 2015 | - |
dc.identifier.citation | Singapore Journal of Legal Studies, 2015, July, p. 26-45 | - |
dc.identifier.issn | 0218-2173 | - |
dc.identifier.uri | http://hdl.handle.net/10722/279984 | - |
dc.description.abstract | Limited access to bank branches excludes over one billion people from accessing financial services in developing countries. Digital financial services offered by banks and mobile money providers through agents can solve this problem without the need for complex and costly physical banking infrastructures. Delivering digital financial services through agents requires a legal framework to regulate liability. This article analyses whether vicarious liability of the principal is a more efficient regulatory approach than personal liability of the agent. Agent liability in Kenya, Fiji, and Malawi is analysed to demonstrate that vicarious liability of the principal, coupled to an explicit agreement as to agent rewards and penalties, is the more efficient regulatory approach. | - |
dc.language | eng | - |
dc.publisher | National University of Singapore, Faculty of Law. The Journal's web site is located at http://www.law.nus.edu.sg/sjls | - |
dc.relation.ispartof | Singapore Journal of Legal Studies | - |
dc.subject | Banking | - |
dc.subject | financial services | - |
dc.subject | developing countries | - |
dc.subject | digital financial services | - |
dc.subject | liability | - |
dc.title | Regulating Digital Financial Services Agents in Developing Countries to Promote Financial Inclusion | - |
dc.type | Article | - |
dc.identifier.email | Gibson, E: egibson8@hku.hk | - |
dc.identifier.hkuros | 308806 | - |
dc.identifier.volume | July | - |
dc.identifier.spage | 26 | - |
dc.identifier.epage | 45 | - |
dc.publisher.place | Singapore | - |
dc.identifier.ssrn | 2973806 | - |
dc.identifier.issnl | 0218-2173 | - |