Regulatory Alerts2022-01-27
Regulation on Electronic Payment Instruments
The Central Bank of the Republic of Kosovo issued this regulation to establish comprehensive conditions, definitions, and procedures for issuing and utilizing electronic payment instruments across authorized financial institutions. It mandates written contracts detailing rights, obligations, fees, and security protocols while imposing strict transparency, record-keeping, and anti-money laundering duties on issuers. The framework also defines holder responsibilities, limits financial liability for unauthorized or fraudulent transactions upon timely notification, and guarantees prompt compensation for issuer errors.
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