Regulatory Alerts2024-09-01
Regulation No. 4/2022 of April 14, 2022 Governing Participation in the Burundi Integrated Payment and Settlement System (SIPREBU)
The Banque de la République du Burundi issued Regulation No. 4/2022 to establish comprehensive operational, financial, and governance rules for direct, indirect, and sub-participants accessing the Burundi Integrated Payment and Settlement System (SIPREBU). The regulation mandates specific settlement account requirements, defines eight distinct payment categories with real-time and net settlement mechanisms, and establishes queue management, priority rules, and intra-day liquidity facilities to ensure systemic fluidity. It further outlines participants' obligations regarding fee allocation, error handling, client crediting timelines, and monetary sanctions for non-compliance.
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