Retail Payment Systems
In the OIC Member Countries
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4. Assess the main challenges and obstacles for retail payment systems in selected OIC
Member States.
5. Provide appropriate policy recommendations to enhance retail payment systems in the
OIC Member States.
1.3 Scope and Description
Given that retail payment systems play important roles within the financial system as well as
the rest of the economy, we deal with it in the context of financial services generally. The
report provides a review of the current situation of retail payment systems in OIC Member
States, identifying current legal and institutional frameworks concerning retail payment
systems.
In doing so, first, this report identifies the conceptual framework of retail payment systems,
examines the literature as well as regional and international experiences. The report provides
an analysis of the latest trends and current approaches concerning retail payment systems
worldwide. Second, this report provides a snapshot of retail payment systems in the OIC
Member States by exploring current practice and recent developments. Third, it scrutinises
selected OIC Member States in detail: Egypt, Indonesia, Ivory Coast [Côte d'Ivoire], Morocco,
Nigeria, Pakistan, Turkey, and the United Arab Emirates. The report ends with a set of policy
recommendations.
1.4 Structure and Organisation of the Report
The report is divided into six chapters plus appendices. Following this chapter’s introduction
to the scope and objectives of the study, Chapter 2 describes the background of payment
systems, particularly in the context of OIC Member States. Chapter 3 discusses retail payment
systems broadly, followed by in-depth case studies in Chapter 4. The next chapter summarises
evidence and analyses the findings. We conclude with recommendations for policy and
practices in Chapter 6.