10 May 2010: For the first time in the AFI knowledge exchange grant process, a joint delegation from the Central Banks of Tanzania and Burundi participated in a visit to the Philippines to learn about the innovative regulatory approach adopted by the Bangko Sentral ng Pilipinas (BSP) that has allowed mobile phone financial services to successfully be introduced.

Officials from Banque de la République du Burundi (Central Bank of Burundi) and the Bank of Tanzania visited the Philippines in April 2010 on an AFI grant exchange to learn about the innovative regulatory approach that has allowed mobile phone banking to take place in the country. The Philippines example, enabled by the Bangko Sentral ng Pilipinas, is unique in that it has allowed for the growth of a mobile banking industry that has adopted both bank-centric and telco-centric models.

The joint delegation enjoyed a packed schedule of meetings with key mobile banking stakeholders from both private and public sectors in the Philippines. Highlights included meetings with SMART telecom, BanKO, GXchange, Microenterprise Access to Banking Services, and meetings with teams responsible for the enabling regulation at the Bangko Sentral ng Pilipinas. The delegation was also received by Deputy Governor of the Bangko Sentral ng Pilipinas and AFI Policy Champion Nestor A. Espenilla, Jr., who was instrumental in leading the necessary reforms in the Philippines. The joint delegation commended their hosts on their innovation and underlined that they found the experience to be extremely beneficial and that the joint mission helps to expand networks that they are keen to maintain.

The lessons learned from the exchange visit will help support and shape an evolving mobile banking regulatory approach in both visiting countries.

For the Central Bank of Burundi, the knowledge exchange visit therefore provides important background and insights to help support the development of a framework for regulating mobile phone financial services which will enable mobile phone operators to deploy money transfer and payment financial services in the country. For the Bank of Tanzania, the knowledge exchange will inform potential amendments to their existing policies, guidelines, and regulations in order to craft a regulatory framework that provides incentives and protections necessary to launch mobile banking services.