Since 2006, Chile has been developing a national strategy for financial inclusion. In late October 2016, the National Congress passed legislation to allow a new category of financial, non-banking...
To date, Argentina has not issued e-money legislation or provided for the incorporation of financial non-banking institutions to extend the reach of financial services to the unbanked population;...
Mobile remittances are a growing market. This presentation gives insight into mobile money and remittances, the role of network operators as well as the legal issues at play, with cases studies...
With the implementation of Law 29.985/2013, Peru became the first Latin American country to issue e-money legislation, and the country remains one of the most innovative in the region....
Similarly to Colombia and Guatemala, Mexico has not issued e-money legislation; instead, it has adapted the legal framework for mobile financial services (MFS) as an alternative channel to deliver...
E-money will be provided by some established categories of financial institutions, such as banks, cooperative banks and savings and credit companies in El Salvador. Law 72/2015 allows the...
When Law 1735/2014 was enacted, Colombia had already implemented measures to promote financial inclusion by means of banking deposits with simplified opening requirements. Unlike legislation in...
Panama has the largest financial system in Latin America and continues to consolidate as a financial hub in the region. The lack of a central bank controlling the money supply has not impeded the...
Law 12.865/2013 defines e-money as an amount stored in an electronic system or device which allows end users to proceed with a payment transaction in national currency. E-money does not accrue...
Unlike Peru, Ecuador and Uruguay, Bolivia has not regulated e-money in an independent piece of legislation; however, there have been several regulatory reforms for the deployment of innovative...
In December 2014, the Paraguayan government launched the National Strategy for Financial Inclusion which aims to extend the offer of financial services to the poorest segments of society by means...
Law 19.210/2014 provides the foundations for the issuance of e-money instruments. As in other Latin American countries, this law is linked to Uruguay’s national financial inclusion policy; however...
Guatemala has not issued legislation regulating e-money products and services. Instead, it has paved the way for deployment of mobile financial services (MFS)....
In February 2014, Resolution 055/2014 regulated e-money services in Ecuador for first time. Later, in November 2014, Resolution 005/2014 repealed Resolution 055/2014 and set the current framework...
To date, Costa Rica has not issued e-money legislation. The country is a largely cash-based economy, with 90 percent of transactions settled in cash, although with simplified bank accounts and a...
The Nicaraguan e-money sector is made up of different participants, such as: entidades de dinero electronico – EDEs (electronic money entities); agents; commercial establishments; and clients....

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