Regulatory Alerts2023-01-01
Payment System Law
The Central Bank of Montenegro enacted the Payment System Law to regulate payment operations, including payment services, electronic money, and payment systems. The legislation defines specific payment services, establishes exclusions for certain transactions, and mandates authorization or registration for providers such as payment institutions and electronic money institutions. It further outlines the rights and obligations of providers, users, and agents while defining key terms and enforcement mechanisms for compliance.
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