Regulatory Alerts2026-01-01
National Payment System (Payment Services and Payment Service Providers) Regulations, 2026
The Board of the Central Bank of Barbados issued these Regulations under the National Payment System Act, 2021, to establish a comprehensive legal framework for payment service providers and electronic money issuers. The rules mandate licensing, maintain a public register, enforce strict liquid asset requirements for electronic money, and require fair, non-discriminatory access to payment systems and accounts. Additionally, the Regulations impose detailed obligations regarding written agreements, transaction execution standards, safeguarding of customer funds, and anti-money laundering compliance.
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