Regulatory Alerts2019-03-07
Practice Note for Mobile Money Service Providers
The Central Bank of Eswatini issued this Practice Note to establish comprehensive authorization and licensing procedures for domestic and cross-border Mobile Money Service Providers (MMSPs) and their appointed agents. The framework mandates strict adherence to anti-money laundering and counter-terrorist financing regulations, specifies capital and trust account obligations, and defines governance, IT interoperability, and integrated risk management standards for mobile money operations. It further outlines detailed application requirements, regulatory oversight mechanisms, consumer protection measures, and administrative sanctions to ensure financial inclusion and systemic stability within Eswatini.
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