A Regulatory Diagnostic Toolkit for Digital Financial Services in Emerging Markets
(2018) 34 Banking and Finance Law Review 1
30 Pages Posted: 2 May 2019
Date Written: December 1, 2018
Digital financial services (DFS) present an unprecedented opportunity to improve financial inclusion and economic development. However, these innovative services can prove challenging for regulators, particularly in developing countries. This article proposes a comprehensive analytical framework – a Regulatory Diagnostic Toolkit (RDT) – designed to support financial regulators in emerging markets in their efforts to assess, adapt and advance their regulatory regimes for DFS. The RDT’s detailed methodology is built around two key objectives: (i) supporting innovative DFS and (ii) avoiding overregulation.
Keywords: Digital financial services, DFS, Regulatory Diagnostic Toolkit, RDT, developing countries, financial regulation, financial inclusion, economic development, overregulation
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