správa: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks

správa: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks

The global lending institution, the International Monetary Fund (MMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other digital finance providers.”

Keeping Payment System Open and Competitive

The International Monetary Fund (MMF) has reportedly said the Kenyan central bank’s proposed digital currency should complement and not threaten the existing private sector digital money. The global lender insisted that if no safeguards are put in place, a digital currency issued by the Central Bank of Kenya (CBK) can potentially lower transaction costs to the point of driving out mobile money operators such as M-Pesa out of business.

According to a správa by The Nation, the IMF, in its commentary, said it wants the CBK’s digital shilling document to outline how the central bank plans to keep the payment system open and competitive.

“The paper could state the intent of potential issuance of CBDC is to complement rather than substitute existing private-sector digital payment solutions, and affirm CBK’s commitment to an open, competitive payment system. We note in this regard that the balance between central bank money and private sector payment instruments is not fixed over time, and there is no ‘right’ balance,” the IMF is quoted as stating.

CBDC Must Do No Harm

Besides posing a threat to fintechs, the CBK’s proposed digital shilling also poses a threat to banks which have also made “remarkable progress in developing digital solutions.” According to the IMF, the CBK’s digital shilling paper must make clear that the proposed digital currency will “do no harm.” It must “not stifle such welcome digitalisation developments by taking away customers of banks and other digital finance providers.”

The IMF also argued that the digital shilling must also not result in the increased cost of financing for banks, or deny “banks of valuable information they obtain through establishing customer relations.”

Register your email here to get a weekly update on African news sent to your inbox:

Značky v tomto príbehu

Aký je váš názor na tento príbeh?? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara je zimbabwiansky ocenený novinár, autor a spisovateľ. Rozsiahlo písal o ekonomických problémoch niektorých afrických krajín, ako aj o tom, ako môžu digitálne meny poskytnúť Afričanom únikovú cestu..














Obrazové kredity: Shutterstock, Pixabay, Wiki Commons, Photo credit: Authentic travel via Shutterstock

Vylúčenie zodpovednosti: Tento článok slúži len na informačné účely. Nejde o priamu ponuku alebo vyžiadanie ponuky na kúpu alebo predaj, alebo odporúčanie alebo schválenie akýchkoľvek produktov, služby, alebo spoločnosti. Maximumhorrors.com neposkytuje investície, daň, legálne, alebo účtovné poradenstvo. Spoločnosť ani autor nenesú zodpovednosť, priamo alebo nepriamo, za akúkoľvek škodu alebo stratu spôsobenú alebo údajne spôsobenú alebo v súvislosti s používaním alebo spoliehaním sa na akýkoľvek obsah, tovar alebo služby uvedené v tomto článku.

Čítať odmietnutie zodpovednosti

zdieľam