2/4  BIS central bankers' speeches  Just last week¹, two new pieces of legislations were voted at the National Assembly. These are the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Bill, and the Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation (Miscellaneous Provisions) Bill.
Towards this end, experiments like “Cardless cash withdrawal” for the unbanked is gaining ground. We have recently given in-principle approval for two entities to take this service forward. Of course, for this to gain traction, active participation of and promotion by banks would be imperative as the delivery channels envisaged in these models are the ATMs and Business Correspondents (BCs).