Regulatory Alerts2020-01-01
Decision on Detailed Conditions for Providing Activities of the Payment Service Agent
The Central Bank of Montenegro issued this decision to establish detailed conditions and registration requirements for payment service agents operating within the country. It mandates that agents must be entered into specific registers maintained by the Central Bank or relevant institutions based on their sponsoring payment service provider and requires submission of comprehensive documentation, including proof of technical infrastructure and clean criminal records for key personnel. The regulation also outlines procedures for registration approval, removal from registers, and imposes a 90-day compliance deadline for existing bank agents to regularize their status.
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