Assessment of Legal and Practical Challenges Affecting Mobile Banking: Case Study of Tanzania

Chitanda, Hatiya (2013) Assessment of Legal and Practical Challenges Affecting Mobile Banking: Case Study of Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

This dissertation is about the improvement of mobile banking in Tanzania, particularly, mobile phone banking. The impact of advancement of mobile banking in Tanzania has a direct relationship with the development of legal framework. The focus is on the potential legal and practical assessment of the mobile banking services in Tanzania. Specifically, this dissertation looks at the ways in which legal framework; policies and laws fail or succeed solving the legal and practical challenges in relation to the mobile banking in Tanzania as a case study. This dissertation shows the current status of the regulations, policies and laws in Tanzania and its legal and practical implications towards bridging the mobile banking services. It also suggests ways in which the Bank of Tanzania (BOT), Banks, Mobile phone companies providing mobile banking services, the Government and other stakeholders can approach to resolve current legal and practical challenges facing the sector with a view of improving E-money industry in the world, particularly, the use of mobile banking. The findings in this dissertation highlight the weaknesses in the legal framework of Tanzania in relation to mobile banking services. The dissertation concludes by offering recommendations which are believed to be useful to consider when approaching improvement of legal framework in relation to the mobile banking services in Tanzania. The recommendations are given as a way towards improving the legal framework and security in mobile banking industry.

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