Press Release: Managing the regulatory environment and consumer protection – latest reports from ITU Focus Group on Digital Financial Services

Further clarification to help drive development of international framework for regulators, operators and providers in the telecom and financial services sectors

Geneva, 12 July 2016 – The International Telecommunication Union (ITU) Focus Group on Digital Financial Services has published two further reports as it seeks to develop an international framework of good practice guidelines for regulators, operators and providers in the telecom and financial services sectors. In addition to the four research papers published last month it has now released two new reports: one on regulation in the DFS ecosystem and another on consumer protection.

ITU Secretary-General Houlin Zhao said: “Regulation must nurture the development of a strong and healthy digital finance sector. Given the complexity of the regulatory environment, it can often be a challenge for telecom and financial services regulatory bodies in many emerging markets to collaborate in developing national guidelines. For the first time the Focus Group has sought to identify a clear framework that regulators around the world can use. I believe also that the work being done will contribute significantly towards reducing global poverty, helping therefore to achieve the first Sustainable Development Goal”

For full text see: http://www.itu.int/net/pressoffice/press_releases/2016/29.aspx

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