Regulatory Alerts2019-06-04 | CIEX N° 39/2019Added · Updated
CIEX No. 39/2019: Subscription of Account Opening and Financial Services Contract
The Central Bank of Bolivia requires State-owned or majority State-owned financial entities and private financial intermediation entities participating in the Integrated Payment Liquidation System (LIP) to subscribe to a new Account Opening and Financial Services Contract by June 14, 2019. Entities must submit a written request along with a special power of attorney granted before a public notary, which must include specific clauses authorizing the Bank to manage liquidity reserves, execute debits, collect fees, and handle digital signatures. The power of attorney must be registered with FUNDEMPRESA, except for savings and credit cooperatives and development financial institutions, and failure to comply will result in sanctions reported to the ASFI.