Regulatory Alerts2023-06-14
National Payments System Act of Eswatini, 2023
The Central Bank of Eswatini, empowered by the King and Parliament, enacts this legislation to regulate, supervise, and oversee national payment systems while mandating the licensing of payment service providers and system operators. The Act establishes clear eligibility criteria, designation procedures, and supervisory powers for the Bank, including interoperability standards, outsourcing rules, and anti-money laundering compliance. It further guarantees settlement finality, provides insolvency protections for system participants, and repeals the 2011 Clearing and Settlement Systems Act to advance regional integration and financial inclusion.
Share