Regulatory Alerts2019-12-05 | CIEX N° 70/2019Added · Updated
CIEX No. 70/2019: Participation in the Integrated Payment Clearing System (LIP)
Money Transfer and Remittance Companies licensed by the ASFI are authorized to voluntarily participate in the Integrated Payment Clearing System (LIP). To join, these entities must submit a written request to the Central Bank of Bolivia (BCB) General Management to sign the Account Opening and Financial Services Contract, accompanied by specific legal documentation including their commercial registry, operating license, and a notarized power of attorney. The power of attorney must explicitly authorize the representative to sign contracts, authorize debit transactions, and manage digital signatures within the LIP framework. This participation is subject to the inscription of the power of attorney with FUNDEMPRESA in accordance with Article 165 of the Commercial Code.