Monday 3 June 2013

[wanabidii] Re: [PK] No Bangla Pesa no Mpesa!!!!!!!!!!

Jangita

Would barter trade be considered legal though?

Francis
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From: Jangita Nyagudi <jangita.nyagudi@gmail.com>
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Date: Mon, 3 Jun 2013 20:52:35
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Subject: Re: [PK] No Bangla Pesa no Mpesa!!!!!!!!!!

Boss I suggest you read

http://www.bu.edu/bucflp/files/2012/01/Banking-Act.pdf

and

http://www.centralbank.go.ke/index.php/bank-supervision

These are laws that govern banks institutions who issue promisory
instruments; all the way down to forex bureaus, mpesa, airtel money,
yu cash blah blah blah, micro finances from faulu to that little
chama. if banlga first called central bank and said we want to do this
and that CBK would have said comply with this and that and proceed.
Why CBK would have an issue is that say the owner of bangla wanted to
get rich; well he'd just print millions, exchange them for goods and
sell the for real cash and leave...

my two shillings

On 3 June 2013 20:38, Okiya Omtatah Okoiti <omtatah@yahoo.com> wrote:
> Banning Bangla Pesa while allowing Mpesa, debit cards and similar to operate
> as legal tender is discriminatory. Mpesa and related money is nothing but a
> promissory sms generated on mobile phone networks; Bangla on the other hand
> is promissory pieces of paper circulating among a small network of dwellers
> in Bangladesh slums in Mombasa. Hence, there is no other reason than the
> fact that those who own Bangla Pesa are dirt poor, while those who own the
> likes of Mpesa are stinking rich. That is discrimination and it should be
> nipped in the bud.
>
> NOTE:
> Bangla-Pesa is a program to strengthen and stabilize the economy of the
> informal settlement of Bangladesh, Kenya by organizing its more than 200
> small scale businesses into a Bangla Business Network (BBN) through which
> its members can utilize a complementary currency to mediate trades. The
> Bangla-Pesa is a unit of credit within this mutual-credit-clearing (or
> multilateral reciprocal exchange) system which provides a means of payment
> that is complementary to official money. please read more at...
> http://koru.or.ke/bangla
>
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