By Melissa Scudo
This week, the USAID Asia and the Middle East Economic Growth Best Practices (AMEG) project joined with the Social Fund for Development in Yemen, the Consultative Group to Assist the Poorest (CGAP) and USAID/Yemen to host the Regulating Branchless Banking in Yemen workshop. The Central Bank Governor, Sub Governor of Foreign Bank Operations, the Deputy Sub Governor of Banking Supervision and some 30 other participants from the Central Bank of Yemen participated in the workshop. Led by CGAP, the proceedings facilitated a discussion on a appropriate policy framework to provide an enabling environment to support branchless banking in Yemen. The workshop focused quite a bit on the various options for bank-based vs. non-bank based models as well as appropriate regulations to supervise agent networks.
It is exciting to see the Central Bank representatives reviewing and moving forward on branchless banking regulations for Yemen. For those interested in the mobile money and branchless banking efforts in Yemen, we will continue to provide updates via this blog.
Photo Credit: USAID AMEG project
Melissa Scudo is a financial sector specialist with Chemonics International. Currently, she is the program manager of the USAID Asia and the Middle East Economic Growth Best Practices (AMEG) project, managed by Chemonics. Melissa has conduced feasibility assessments to accelerate the use of mobile money in Afghanistan, Malawi and Indonesia as a manager on USAID’s Financial Sector Knowledge Sharing (FS Share) project. For the USAID AMEG project, Melissa is working in collaboration with USAID, CGAP and the Central Bank of Yemen to refine implementing guidelines to clarify the use of mobile money in Yemen. Melissa’s previous experience includes supporting mobile money development in the Philippines for the USAID/MABS project.