Regulatory Alerts2011-10-13
SIBANC Operating Hours Regulation (NAP)
The Central Bank of São Tomé and Príncipe mandates the operating hours and business days for SIBANC, the automated payment system serving financial institutions within the Dobra24 network. The regulation requires SIBANC to remain open daily except Saturdays, Sundays, and national holidays, with core system operations running strictly from 8:00 to 17:00. These operating parameters may be amended upon need and the regulation takes full effect immediately upon publication to standardize electronic clearing procedures.
| Banco Central de S. T. P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| EO 99 | ||
| PROPOSER(S) | ENTRY INTO FORCE | DATE OF ISSUE |
| DMGL | 13/10/2011 | 13/10/2011 |
Subject: Operating Hours of SIBANC
Considering the gradual improvement of the payment system serving the banking sector; Considering the implementation of ATM and POS machines within the Automated Payment System of the Dobra24 network; Recognizing the need to establish regulations regarding the operating hours of SIBANC; Exercising the powers conferred by paragraph K) of section 2, Article 8 of its Organic Law; The Board of Directors of the Central Bank of São Tomé and Príncipe determines:
Article 1. Recipients This regulation applies to all financial institutions supervised by the Central Bank that operate in the Automated Payment System of the Dobra24 network.
Article 2. Subject Matter This NAP specifies the operating hours, as well as the business days for electronic clearing operations in SIBANC.
Article 3. Operating Hours
- SIBANC is open every day except Saturdays, Sundays, and national holidays.
| Endorsed | Revocation Data: |
|---|
| Banco Central de S. T. P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| EO 99 | ||
| PROPOSER(S) | ENTRY INTO FORCE | DATE OF ISSUE |
| DMGL | 13/10/2011 | 13/10/2011 |
- The system operating hours are from 8:00 to 17:00.
- In case of need, the operating hours may be subject to amendments.
Article 4. Entry into Force This Permanent Application Norm enters into force on the date of its publication.
Central Bank of São Tomé and Príncipe, October 13, 2011.
| Endorsed | Revocation Data: |
|---|