Regulatory Alerts2018-09-07
Legal Regime of the National Payments System
The National Assembly of São Tomé and Príncipe enacted Law No. 17/2018 to establish the legal framework governing the regulation, superintendence, and management of the National Payments System. The legislation empowers the Central Bank (BCSTP) to license operators, control financial and operational risks, provide settlement infrastructure, and enforce public interest objectives of security, reliability, transparency, and efficiency. It comprehensively defines payment instruments, clearing and settlement mechanisms, and establishes authorization procedures, licensing requirements, and supervisory oversight to ensure the secure and efficient transfer of funds across domestic financial markets.
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