Regulatory Alerts2020-05-28 | CIEX N° 23/2020Added · Updated
CIEX No. 23/2020: Procedure for No Objection to New Electronic Payment Services and Instruments
The Central Bank of Bolivia establishes the mandatory procedure for financial entities to obtain a no-objection response before incorporating new electronic payment services or instruments into their operations. Entities must submit a formal note detailing the service description, security features, operational processes, testing results, and contingency plans to the General Management. Upon receiving the no-objection response, entities must then request authorization from the Financial System Supervision Authority (ASFI). This circular repeals External Circular SGDB No. 006/2018.