Regulatory Alerts2024-09-01
Added · Updated
Circular No. 002 of 2024 on Payment Aggregation Institutions
The Banque de la République du Burundi issued Circular No. 002/SP/2024 to regulate the authorization, operation, and supervision of Payment Aggregation Institutions (PAIs). The regulation mandates a minimum capital of 200 million Burundian Francs, strict governance and data protection standards, and comprehensive anti-money laundering compliance for all applicants. It further establishes detailed requirements for licensing documentation, incident reporting, client fund segregation, dispute resolution, and ongoing regulatory reporting.