Regulatory Alerts2022-09-01
Regulation No. 54/2022 Governing Electronic Money Issuers
The National Bank of Rwanda issued Regulation No. 54/2022 to establish comprehensive licensing, corporate governance, and operational frameworks for electronic money issuers. The regulation mandates strict customer due diligence, dedicated trust fund protection, liquid asset requirements, and clear separation between e-money issuance and traditional deposit-taking. It further defines permitted activities, transaction and balance limits, board committee responsibilities, technology standards, and administrative sanctions to ensure market stability.
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