The central banks of four East African countries are conducting a study that will set the baseline for money transfer fees across the region.
Heads of state in Uganda, Kenya, Rwanda and South Sudan in a June directive ordered individual bank regulators to study money flows in mobile platforms and state how harmonisation of the rates could affect the flow.
“The central banks are spearheading the study to inform the provision of mobile financial services in the region,” said a Northern Corridor Integration Project Summit Authority statement on Friday. Read more. Source | Daily Nation