Regulatory Alerts2019-10-11 | CIEX N° 61/2019Added · Updated
CIEX No. 61/2019: Subscription of Account Opening and Financial Services Contract
The Central Bank of Bolivia requires participating entities of the Integrated Payment Settlement System (LIP), including clearing houses, deposit entities, and payment service companies, to subscribe to a new Account Opening and Financial Services Contract by October 18, 2019. Participants must submit a written request to the General Management specifying legal representatives and attach a special power of attorney registered with FUNDEMPRESA that grants specific authorities for contract management, debit authorization, fee collection, fund transfers, and digital signature operations. Failure to comply will result in the Central Bank reporting the situation to the Financial System Supervision Authority (ASFI) for the application of corresponding fines or sanctions.