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The protection of banking customers from the risks of mobile payments in Saudi Arabia

Alhamzi, Mohammed (2018) The protection of banking customers from the risks of mobile payments in Saudi Arabia. Doctor of Philosophy (PhD) thesis, University of Kent,. (KAR id:79514)

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Abstract

Demand for mobile payment (m-payment) services is transforming the banking payment system in unprecedented ways and at a growing rate. These developments raise unique concerns and risks which must be managed by the adoption of an appropriate regulatory framework if this 'Fintech' innovation is to offer a net social and economic benefit.

With a view to proposing a model for reform of Saudi regulation, the United Kingdom ('UK') legal system will be scrutinised to assess whether lessons can be learnt in providing greater protection to customers in a Saudi Arabian context while remaining Sharia compliant. The UK is a valuable selection as a comparator as it has succeeded in balancing these objectives to a significant extent, achieving greater consumer protection than is currently available in Saudi Arabia ('SA') without compromising the strength and freedom of the market. There are also strong parallels between the two societies particularly in respect of openness to Fintech innovation. It will be proposed that the UK law provides a positive example of how this systematic defect in the regulation of m-payments can be remedied, in addition to more specific illustrations of provisions and policies which can aid in balancing the demands of consumer protection and market development. Recommendations are made as to how these can be usefully incorporated into a broader reform of the Saudi regulatory regime.

Item Type: Thesis (Doctor of Philosophy (PhD))
Thesis advisor: Wong, Simone
Thesis advisor: Zokaityte, Asta
Divisions: Divisions > Division for the Study of Law, Society and Social Justice > Kent Law School
SWORD Depositor: System Moodle
Depositing User: System Moodle
Date Deposited: 08 Jan 2020 13:10 UTC
Last Modified: 01 Jun 2021 23:00 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/79514 (The current URI for this page, for reference purposes)
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