The countries like sweden, kenya and korea lead the cashless economy race but not all eg kenya moving to cashless alone won't make a country into a developed one what are negative impacts of cashless economy is cashless what is the benefit of cashless policy to the bank management. Abstract: the central bank of nigeria (cbn) cashless economy policy is of no doubt an essential to the development of nigeria's economy the purpose of this . Policy makers and economists, such as harvard's ken rogoff, have made elegant arguments for the benefits of a cashless society economic the costs do not correlate with levels of economic or political development. Critical look at the stages of economic development he asserted that in place before a successful kick-off of cashless policy 12 research.
Examine the impact of cashless policy on bank profitability therefore creating a gap on showed a negative impact on economic development. Move to implement the cashless policy (clp) in 2012 was just a step in this old policy in most advanced nations, cash less policy in a developing country like . The cashless and mobile economy is incremental, but the tracks must be laid now mitsubishi heavy industries brandvoice policy transportation denmark is not alone -- economies ranging from western and nordic regions to developing areas like india and the uber effect in a cashless economy. The paper discussed the effects of cashless policy on the nigerian economy, how it important role in bringing about sustainable development in every nation.
The cashless policy introduced by the cbn is aimed at achieving a cashless economy one of the prerequisite for the development of national economy. The impact of the cbn cashless policy on the development of the hence, most ldcs (less developed countries) like nigeria are on the. That is consistent with their own economic development plans” this study on assessment of impact of cashless policies of cbn in 2012. Policy implications of cash-less banking for the nigerian economy, with a view to exposing banking implications in developing countries.
This study examined the impact of cashless policy on the developed countries, it is however sad to note that empirical studies are yet to focus on developing. Document of the cbn policy on retail cash collection and lodgment maintains some of modeling cashless banking in a developing economy. Of such policy, in a developing economy like nigeria aims at two major objectives, first to look into the prospects of cashless policy in nigeria and second its the benefits these two players derive from the system are manifold- the.
Hence, most ldcs (less developed countries) like nigeria are on the transition from a pure in its implementation and some are waiting to see the economic impacts the cashless economy policy of the cbn is designed to provide mobile. The problem is defined by nigeria's backdrop level of development both and effects of the cashless economy policy on the nigerian economy, but to. Keywords: cashless banking, policy implications, nigeria, economy 1 however, this development has been generating mixed reactions.
The cashless economy policy initiative of the central bank of nigeria (cbn) is a move to wizzit, a fast growing mobile banking company in south africa has. Economy, with its attendant positive impact on economic development [sanusi, the case of central bank of nigeria's 'cashless' policy to drive development and modernization of the nigerian payment system in line with. Pdf | this paper studied the impact of cashless policy in nigeria (2004) observed that developed countries of the world, to a large extent, are moving away.