Policy Profile
ID
Policy Question
Responses
SMEF-Cat-19
Do the agencies that use their own MSME definition framework have a legal or policy basis?
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent) 1
Central Bank / financial sector regulator, Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent) 1
Ministry of Economic Planning (or its equivalent) 1
Ministry of Finance 1
Ministry of Trade, Industry, Commerce (or its equivalent) 2
Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent) 1
Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent), National MSME Development Council / Board (or its equivalent) 1
National MSME Development Council / Board (or its equivalent) 1
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent)
1 Countries
Palestine
Central Bank / financial sector regulator, Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent)
1 Countries
Jordan
Ministry of Economic Planning (or its equivalent)
1 Countries
Eswatini
Ministry of Finance
1 Countries
Burundi
Ministry of Trade, Industry, Commerce (or its equivalent)
2 Countries
Bangladesh
Eswatini
Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent)
1 Countries
El Salvador
Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent), National MSME Development Council / Board (or its equivalent)
1 Countries
Philippines
National MSME Development Council / Board (or its equivalent)
1 Countries
Ecuador
SMEF-Cat-20
Which agency can legalize or issue an MSME definition policy in your country?
Central Bank / financial sector regulator 1
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent) 1
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent), Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent) 1
Central Bank / financial sector regulator, Ministry of Finance, Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent) 1
Ministry of Economic Planning (or its equivalent) 1
Ministry of Finance 2
Ministry of Trade, Industry, Commerce (or its equivalent) 2
Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent) 1
National MSME Development Council / Board (or its equivalent) 2
Central Bank / financial sector regulator
1 Countries
Haiti
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent)
1 Countries
Palestine
Central Bank / financial sector regulator, Ministry of Economic Planning (or its equivalent), Ministry of Trade, Industry, Commerce (or its equivalent), National Statistics Office (or its equivalent)
1 Countries
Jordan
Central Bank / financial sector regulator, Ministry of Finance, Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent)
1 Countries
Madagascar
Ministry of Economic Planning (or its equivalent)
1 Countries
Eswatini
Ministry of Finance
2 Countries
Burundi
Burundi
Ministry of Trade, Industry, Commerce (or its equivalent)
2 Countries
Bangladesh
Eswatini
Ministry of Trade, Industry, Commerce (or its equivalent), National MSME Development Council / Board (or its equivalent)
1 Countries
Philippines
National MSME Development Council / Board (or its equivalent)
2 Countries
El Salvador
Ecuador
SMEF-Cat-21
What were the primary considerations when designing the MSME definition framework?
Effective targeting for MSME development programs 4
Effective targeting for MSME development programs, Ease of data collection, Harmonization of government MSME data 3
Effective targeting for MSME development programs, Ease of data collection, Harmonization of government MSME data, Macroeconomic consideration 1
Effective targeting for MSME development programs, Ease of data collection, Macroeconomic consideration 1
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection 1
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking 2
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking, Macroeconomic consideration 2
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking, Macroeconomic consideration, Other consideration(s) 1
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Macroeconomic consideration 1
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Usefulness for international benchamrking, Macroeconomic consideration 2
Harmonization of government MSME data 3
Other consideration(s) 1
Reliability of data source, Ease of data collection, Harmonization of government MSME data, Macroeconomic consideration 1
Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking 1
Reliability of data source, Ease of data collection, Macroeconomic consideration 1
Effective targeting for MSME development programs
4 Countries
Costa Rica
Solomon Islands
Haiti
Ecuador
Effective targeting for MSME development programs, Ease of data collection, Harmonization of government MSME data
3 Countries
Armenia
Timor-Leste
Eswatini
Effective targeting for MSME development programs, Ease of data collection, Harmonization of government MSME data, Macroeconomic consideration
1 Countries
Eswatini
Effective targeting for MSME development programs, Ease of data collection, Macroeconomic consideration
1 Countries
Samoa
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection
1 Countries
Palestine
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking
2 Countries
Malaysia
Armenia
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking, Macroeconomic consideration
2 Countries
Philippines
Armenia
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking, Macroeconomic consideration, Other consideration(s)
1 Countries
Egypt
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Macroeconomic consideration
1 Countries
Bangladesh
Effective targeting for MSME development programs, Reliability of data source, Ease of data collection, Usefulness for international benchamrking, Macroeconomic consideration
2 Countries
Jordan
Zambia
Harmonization of government MSME data
3 Countries
Afghanistan
Afghanistan
El Salvador
Other consideration(s)
1 Countries
Burundi
Reliability of data source, Ease of data collection, Harmonization of government MSME data, Macroeconomic consideration
1 Countries
Madagascar
Reliability of data source, Ease of data collection, Harmonization of government MSME data, Usefulness for international benchamrking
1 Countries
Kenya
Reliability of data source, Ease of data collection, Macroeconomic consideration
1 Countries
Bangladesh
IDFS-01
Do you have a policy (or vision document) that supports or promotes interoperability of digital financial services (DFS) in your jurisdiction?
No 2
Yes 9
No
2 Countries
Guinea
Madagascar
IDFS-02
Has the DFS interoperability policy / vision document indicated above been adopted by the Board / senior management of your institution?
No 4
Yes 8
No
4 Countries
Liberia
Guinea
Seychelles
Madagascar
IDFS-03
Please indicate the key elements/areas of the DFS interoperability policy / vision document in your jurisdiction.
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.) 1
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.) 2
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.), Other (please specify) 3
Clearing & settlement, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.) 1
Clearing & settlement, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.) 1
Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.) 1
Other (please specify) 1
Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.), Other (please specify) 1
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.)
1 Countries
Ecuador
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.)
2 Countries
Bangladesh
Burundi
Clearing & settlement, Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.), Other (please specify)
3 Countries
Liberia
Egypt
Rwanda
Clearing & settlement, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.)
1 Countries
Sudan
Clearing & settlement, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.)
1 Countries
Madagascar
Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.)
1 Countries
Tanzania
Other (please specify)
1 Countries
Seychelles
Risk management, Proper identification of financial services clients, Safety and security of transactions, Fair and open access to interoperable platforms (Eligibility criteria, prohibition of monopolistic practices, open standards, etc.), Consumer protection (disclosure of services terms & conditions, redress mechanism, dispute resolution, data protection, etc.), Other (please specify)
1 Countries
Zimbabwe
IDFS-04
Is the DFS interoperability policy/vision document backed by a regulatory framework?
No 4
Yes 11
No
4 Countries
Sudan
Sudan
Guinea
Madagascar
IDFS-05
How would you qualify the type of DFS interoperability in your jurisdiction?
Full interoperability 3
Not interoperable 3
Partial interoperability 7
Full interoperability
3 Countries
Sudan
Malawi
Burundi
Not interoperable
3 Countries
Guinea
Seychelles
Madagascar
Partial interoperability
7 Countries
Tanzania
Liberia
Egypt
Rwanda
Zimbabwe
Bangladesh
Ecuador
IDFS-06
Do you have in place mechanisms for clearing and settlement of financial transactions from the interoperable payment platform within your jurisdiction?
No 5
Yes 9
No
5 Countries
Guinea
Seychelles
Madagascar
Bangladesh
Burundi
IDFS-07
What are the provisions for safeguarding against loss of consumer funds in the interoperable payment platform?
All transactions of both interoperable ATMs & Mobile Payments are settled through the RTGS and guaranteed by all the RTGS's rules which by the end backed by and managed by the central bank of Egypt
1
Articles 62-64 of the Règlement n°001/2017 above mentioned. 1
Bangladesh Bank as the payment system regulator will take responsibility of loss of consumer funds in the interoperable payment platform. 1
Collateral, Sponsorship arrangements, Participation rules and agreements, Consumer protection guidelines, Transaction limits
1
Consumer Protection Regulation, Payments System Rules, Draft National Electronic Payments Switch Rules
1
Consumer protection framework Consumer complaints redress mechanisms
1
Dispute resolution mechanism
1
Existe protección contemplada en la CODIFICACIÓN DE RESOLUCIONES MONETARIAS, FINANCIERAS, DE VALORES Y SEGUROS derivada del Codigo Orgánico Monetario y Financiero. Cita y explicación descrita en los siguientes campos. 1
NO REPUDIO EN EL SISTEMA CENTRAL DE PAGOS
Art. 11.- Las transferencias aceptadas en el SCP o en los SAP debidamente autorizados a operar a
través del BCE, por las entidades del sistema financiero nacional, tienen la calidad de irrevocables,
vinculantes, exigibles y oponibles a terceros y no podrán suspenderse, revocarse o dejarse sin efecto.
Art. 12.- Las transferencias aceptadas por los Sistemas Auxiliares de Pagos o el SCP, deberán cumplir
con todos los procesos establecidos en el respectivo sistema. Las decisiones administrativas,
judiciales o arbitrales surtirán efecto con posterioridad a la ejecución de las obligaciones
adquiridas por las transferencias aceptadas en el SCP. 1
The payment system law provide provide mechanism to protect payment system in case of insolvency of one participant (no retroactive effect), ensuring the finality of payment system, prohibiting attachment of settlement account, obligation to settle in central bank money, recourse mechanism in case of failure of any transaction, etc
1
There are existing rules and regulations for the interoperable systems which have been made out the existing legal and regulatory framework.
1
All transactions of both interoperable ATMs & Mobile Payments are settled through the RTGS and guaranteed by all the RTGS's rules which by the end backed by and managed by the central bank of Egypt
1 Countries
Egypt
Articles 62-64 of the Règlement n°001/2017 above mentioned.
1 Countries
Burundi
Bangladesh Bank as the payment system regulator will take responsibility of loss of consumer funds in the interoperable payment platform.
1 Countries
Bangladesh
Collateral, Sponsorship arrangements, Participation rules and agreements, Consumer protection guidelines, Transaction limits
1 Countries
Zimbabwe
Consumer Protection Regulation, Payments System Rules, Draft National Electronic Payments Switch Rules
1 Countries
Liberia
Consumer protection framework Consumer complaints redress mechanisms
1 Countries
Malawi
Dispute resolution mechanism
1 Countries
Sudan
Existe protección contemplada en la CODIFICACIÓN DE RESOLUCIONES MONETARIAS, FINANCIERAS, DE VALORES Y SEGUROS derivada del Codigo Orgánico Monetario y Financiero. Cita y explicación descrita en los siguientes campos.
1 Countries
Ecuador
NO REPUDIO EN EL SISTEMA CENTRAL DE PAGOS
Art. 11.- Las transferencias aceptadas en el SCP o en los SAP debidamente autorizados a operar a
través del BCE, por las entidades del sistema financiero nacional, tienen la calidad de irrevocables,
vinculantes, exigibles y oponibles a terceros y no podrán suspenderse, revocarse o dejarse sin efecto.
Art. 12.- Las transferencias aceptadas por los Sistemas Auxiliares de Pagos o el SCP, deberán cumplir
con todos los procesos establecidos en el respectivo sistema. Las decisiones administrativas,
judiciales o arbitrales surtirán efecto con posterioridad a la ejecución de las obligaciones
adquiridas por las transferencias aceptadas en el SCP.
1 Countries
Ecuador
The payment system law provide provide mechanism to protect payment system in case of insolvency of one participant (no retroactive effect), ensuring the finality of payment system, prohibiting attachment of settlement account, obligation to settle in central bank money, recourse mechanism in case of failure of any transaction, etc
1 Countries
Rwanda
There are existing rules and regulations for the interoperable systems which have been made out the existing legal and regulatory framework.
1 Countries
Tanzania
IDFS-08
Does your jurisdiction have in place rules / measures to reduce the risk of insolvency of financial service providers?
No 4
Yes 10
No
4 Countries
Guinea
Madagascar
Ecuador
Ecuador
IDFS-09
Does the legal (or regulatory) framework in your jurisdiction have provisions for a unique identification of consumer of financial services?
No 8
Yes 6
Yes
6 Countries
Tanzania
Liberia
Egypt
Zimbabwe
Malawi
Burundi
IDFS-10
Do your regulations (or rules governing payment systems) allow for the implementation of tiered KYC? (for example, ID requirements are proportional to the nature and the amount of transaction?)
No 4
Yes 9
No
4 Countries
Liberia
Madagascar
Bangladesh
Ecuador
IDFS-11
Which of the following do your existing regulations have provisions /mechanisms that allow for proper mitigation?
Liquidity/settlement risk 2
Liquidity/settlement risk, Fraud 1
Technology risk, Liquidity/settlement risk, Fraud 8
Liquidity/settlement risk
2 Countries
Zimbabwe
Ecuador
Liquidity/settlement risk, Fraud
1 Countries
Malawi
Technology risk, Liquidity/settlement risk, Fraud
8 Countries
Tanzania
Liberia
Sudan
Egypt
Seychelles
Rwanda
Bangladesh
IDFS-12
Which of the following international standards do the operating rules governing interoperable payment systems in your jurisdiction take into consideration?
Global Partnership for Financial Inclusion (GPFI) 2
Global Partnership for Financial Inclusion (GPFI), Principles for Financial Markets Infrastructures 1
Other (please indicate) 1
Principles for Financial Markets Infrastructures 5
Principles for Financial Markets Infrastructures, Other (please indicate) 1
Global Partnership for Financial Inclusion (GPFI)
2 Countries
Burundi
Burundi
Global Partnership for Financial Inclusion (GPFI), Principles for Financial Markets Infrastructures
1 Countries
Tanzania
Other (please indicate)
1 Countries
Sudan
Principles for Financial Markets Infrastructures
5 Countries
Liberia
Egypt
Rwanda
Bangladesh
Ecuador
Principles for Financial Markets Infrastructures, Other (please indicate)
1 Countries
Zimbabwe
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