DIGIT

Forex Shortages Force Nigerian Corporates to Turn to Parallel Market

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Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a former official with the Lagos Chamber of Commerce and Industry (LCCI) has said. According to Muda Yusuf, who is the previous director-general at LCCI, these shortages stem from the foreign exchange market liquidity constraints that … Read more

Indian Bank Blocks Use of RBI’s Remittance System for Crypto While Government Delays Bill

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Major Indian bank ICICI has asked customers not to use the Reserve Bank of India (RBI)’s liberalised remittance scheme (LRS) for any crypto-related investments. ICICI, a leading private sector bank in India, has updated its retail outward remittance application to include cryptocurrency. With this update, the bank has asked its customers to declare under India’s … Read more

Contactless Check-in for Healthcare

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Healthcare is often very confusing, perhaps especially for patients, but perhaps not since $190 billion is spent on unnecessary costs in healthcare payments administration every single year. 25% of wasted spending in healthcare relates to collection, processing, posting, and reconciling payments. It stands to reason that perhaps the insurance community is as confused as patients … Read more

Africa Will ‘One Day Have a Common Currency’ Says Secretary General of African Continental Free Trade Area

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The secretary-general of the African Continental Free Trade Area (AFCFTA) secretariat, Wamkele Mene, says Africa will “one day have a common currency” via a proposed “Pan-African Payment and Settlement System (PAPSS).” He adds that such a currency will help “ease constraints of settling intra-African trade in foreign-denominated currency.” Challenges Ahead In comments recently carried by … Read more