News
Michuki: Probe cash transfer
Mr Michuki (left) and Prof Ndung’u yesterday. Photo/JOSEPH MATHENGE
Posted Tuesday, December 9 2008 at 22:49
In Summary
- Banks raise concern that crooks can use M-Pesa system to launder money
Within minutes
“The M-Pesa money transfer system is very good, but it can be used by bad people,” he said.
The Kenya Bankers Association has in the past called for regulations for the mobile money transfer over the possibility of the system being used for money laundering.
An international money transfer launched by Britain-based Vodafone, a shareholder in Safaricom on Monday, is expected to build on the success of M-Pesa.
Vodafone said the service would allow customers to send remittances from Western Union stores directly to Safaricom mobile subscribers in Kenya within minutes.
“The successful take-up of M-Pesa in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Mr Nick Hughes, Vodafone’s head of international mobile payments.
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Submitted by Daniel08Posted December 11, 2008 05:49 PM
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Submitted by asiagiochichi
now at least we know who stands with the big banks ,which are for the rich. imagine trying to open an account in one of those banks ,you just feel as if they are doing you a very big privilage.m-pesa is for the poor ...michuki should be praising it..LIPA USHURU KWANZA ..by the way when are you retiring from politics...tuambie tu! si kwa ubaya,
Posted December 11, 2008 04:53 PM -
Submitted by mzeemoja
M-Pesa ia an innovation that has brought relieve to Kenyans with or without bank accounts. like Equity Bank it has brought the once boisterous banks down to earth. But I welcome an audit. The figures will then do the talking. If the Gov had ordered an audit of he pyramid schemes, Kenyans would not have lost their money.
Posted December 11, 2008 12:07 PM -
Submitted by Barnicots
This is simply one of the most convenient medium of transacting personal or business undertaking.
Posted December 11, 2008 10:39 AM -
Submitted by Hillaryio
Michuki and those who share his inept reasoning on this issue should back off. Kenyans are not going to wait for you to tell them what is wrong and what is right. You have failed in ever aspect, Michuki, and especially since you haven't been serious in enacting Tax cuts in the MPs bloated allowances. Stay away from us, Michuki, and pay your taxes.
Posted December 11, 2008 10:09 AM
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Some of the Major banks in Kenya are indirectly owned by politicians (through share holding by secondary comapnies) and others the have vested interest in them. M-pesa is viable idea acessing the banking facilities to the ordinary Kenyans. This people should leave politics out of this and spend time on more pressing issues, like corruption and the unsolved goldenberg saga. The Central bank governor can spend his time better trying to crack that one. or is that politically incorrect, he will be stepping on toes! not a good idea.