Regulatory Alerts2025-09-01
Conditions for merit and technical authority to the main officials of payment systems operators and payment services providers
The document outlines the requirements for competence and technical eligibility for key officials of payment system operators and payment service providers, according to the provisions of the Central Bank and Banking System Law No. 194 of 2020. It emphasizes the need for these institutions to obtain prior approval from the Central Bank before appointing individuals to key leadership roles. The document details the criteria, procedures, and obligations related to ensuring the competence, integrity, and suitability of candidates for these positions within the payment ecosystem. The document sets the basic conditions and requirements for candidates for key positions in a payment institution, to verify the extent of their integrity, impartiality, competence, commitment and necessary expertise. It emphasizes on ensuring candidate's competence to perform the tasks and responsibilities of the nominated position, availability of sufficient experience, knowledge in payment services, and the capacity to make sound decisions.