Regulatory Alerts2018-05-23
Added · Updated
Circular dated May 22, 2018 regarding the need for banks to ensure that associations obtain a license to collect donation funds before opening accounts for them
Banks are required to verify that associations hold a license to collect funds from the Ministry of Social Solidarity before opening accounts for them or collecting donation funds. This requirement applies to associations included in banks' lists of permitted donation recipients, ensuring compliance with the provisions of Law No. 70 of 2017 regarding the regulation of the work of associations and other institutions operating in the civil sector.