Regulatory Alerts2018-05-11
Law No. 1/07 of May 11, 2018 on the National Payment System
The President of the Republic of Burundi promulgated Law No. 1/07 to establish the regulatory framework for the National Payment System under the supervision of the Bank of the Republic of Burundi. The law defines key financial terms, mandates central bank authorization for payment systems and payment instrument issuers, and outlines criteria for licensing and potential suspension of operators. It further ensures financial stability by guaranteeing the finality of payments and establishing strict notification protocols for insolvency proceedings.
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