South African central bank launches review of payment system
Sarb says its regulatory mandate needs more clarity and calls for more powers over fintech
The South African Reserve Bank has launched a review of the National Payment System (NPS) Act to ensure its role as a regulator is fully clarified.
“The NPS Act has become outdated and does not provide an adequate framework for the effective regulation of the NPS,” the central bank said in a statement.
“It is therefore crucial that payment systems are adequately regulated to ensure their continued safety and efficiency.”
The review, published in conjunction with South Africa’s finance
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