Regulatory Alerts2021-01-01
Regulatory Decision No. 19-2021/BCC/DSBR on Distribution Agents of Electronic Money and Payment Institutions
The Central Bank of the Comores issued Regulatory Decision No. 19-2021/BCC/DSBR to establish the legal framework governing distribution agents for electronic money and payment institutions. The regulation mandates strict eligibility criteria, standardized contract approvals, and comprehensive operational reporting to ensure compliance with anti-money laundering and consumer protection standards. It further defines authorized payment services, imposes security and record-keeping obligations, and grants the Central Bank full supervisory and enforcement powers over the agent network.
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