Regulatory Alerts2016-10-01
Framework Agreements Required for the Implementation of Multibanking
The Central African regulatory framework mandates this standardized framework agreement to govern the operational relationship between Technical Managers and banking Participants in Multibanking networks for electronic money issuance. The document legally binds signatories to strict 24/7 network availability, daily clearing settlement within 24 hours, robust data security, and strict interoperability without discrimination. It further outlines mandatory confidentiality, dispute resolution via a Management Committee, and immediate termination triggers including regulatory license revocation or judicial restructuring.
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