Regulatory Alerts2024-09-01
Added · Updated
Circular No. 005 of 2024 on Pricing Services for Payment Institutions
The Banque de la République du Burundi establishes specific fees in Burundian Francs (BIF) for payment institutions and other establishments providing electronic money or payment services, covering application analysis, license issuance, regulatory derogations, and annual surveillance fees based on net results. Annual surveillance fees are automatically debited from current accounts at the Central Bank by March 31 of the following fiscal year, or paid via transfer for entities without such accounts. The circular enters into force upon its publication in the Official Bulletin and on the Central Bank's website.
BANQUE DE LA REPUBLIQUE DU BURUNDI
LE GOUVERNEUR
CIRCULAR NO. 005/SP/2024 ON THE PRICING OF SERVICES PROVIDED BY THE CENTRAL BANK TO PAYMENT INSTITUTIONS AND TO ANY ESTABLISHMENT SUBJECT TO REGULATION PROVIDING SERVICES RELATED TO THE ISSUE OF ELECTRONIC MONEY, ISSUED UNDER REGULATION NO. 002/2024 AMENDING REGULATION NO. 001/2017 ON PAYMENT SERVICES AND ACTIVITIES OF PAYMENT INSTITUTIONS
Having regard to Law No. 1/34 of December 2, 2008 establishing the Statutes of the Banque de la République du Burundi; Having regard to Law No. 1/17 of August 22, 2017 governing banking activities; Having regard to Law No. 1/07 of May 11, 2018 establishing the national payment system; Having regard to Regulation No. /2024 amending Regulation No. 001/2017 on payment services and activities of payment institutions.
The Banque de la République du Burundi, hereinafter referred to as the "Central Bank", hereby issues this circular.
Article 1: Purpose and Scope
This circular aims to specify the tariffs applied to services provided by the Central Bank to payment institutions and to any establishment subject to regulation providing payment services.
Article 2: Applicable Tariffs for Services Provided
The table below indicates the tariffs applied to each of the services provided by the Central Bank to payment institutions and to any establishment subject to regulation providing services related to the issue of electronic money:
| PAYMENT INSTITUTION / ELECTRONIC MONEY ISSUER | ||
|---|---|---|
| TITLE | SERVICES PROVIDED | TARIFF (BIF) |
| Analysis of the file | 3,000,000 | |
| Application for approval | Issuance of operating license | 10,000,000 |
| Application for authorization for modification of approval conditions | Analysis of the file | 2,000,000 |
| Application for authorization for a partnership concluded with any other international institution in the provision of payment services | Analysis of the file | 1,000,000 |
| Annual surveillance fee | Surveillance of the establishment's activities | 1% of net result with a minimum of 15,000,000 |
| Application for derogation from a regulatory provision | Analysis of the file | 1,000,000 |
| ESTABLISHMENTS SUBJECT TO REGULATION PROVIDING PAYMENT SERVICES | ||
|---|---|---|
| TITLE | SERVICE PROVIDED | TARIFF (BIF) |
| Application for approval | Analysis of the file | 1,000,000 |
| Issuance of approval certificate | 5,000,000 | |
| Application for authorization for modification of approval conditions | Analysis of the file | 1,000,000 |
| FUND TRANSFER PAYMENT INSTITUTION | ||
|---|---|---|
| TITLE | SERVICES PROVIDED | TARIFF (BIF) |
| Application for approval | Analysis of the file | 2,000,000 |
| Issuance of operating license | 5,000,000 | |
| Application for derogation from a regulatory provision | File analysis fee | 1,000,000 |
| Annual surveillance fees | Surveillance of the establishment's activities | 1% of net result with a minimum of BIF 5,000,000 |
| PAYMENT INSTITUTION PROVIDING PAYMENT PLATFORM SERVICES | ||
|---|---|---|
| TITLE | SERVICES PROVIDED | TARIFF (BIF) |
| Application for approval | Analysis of the file | 2,000,000 |
| Issuance of operating license | 5,000,000 | |
| Application for authorization for modification of approval conditions | Analysis of the file | 1,000,000 |
| Application for derogation from a regulatory provision | Analysis of the file | 1,000,000 |
| Annual surveillance fees | Surveillance of the establishment's activities | 1% of net result with a minimum of BIF 5,000,000 |
| ESTABLISHMENTS OFFERING PAYMENT SERVICES RELATED TO ELECTRONIC MONEY WITH RESTRICTED ACCEPTANCE | ||
|---|---|---|
| Application for non-objection | Analysis of the file | 1,000,000 |
Article 3: Payment Terms for Fees
Fees related to the requests indicated in the previous article are paid by transfer to the benefit of the Central Bank, and debited from the current accounts of establishments subject to regulation opened at the Central Bank.
Annual surveillance fees are either automatically debited from the current accounts of establishments subject to regulation opened at the Central Bank no later than March 31 of the following fiscal year, or transferred to the benefit of the Central Bank for establishments not holding current accounts opened with the latter.
Article 4: Entry into Force
This Circular enters into force on the day of its publication in the Official Bulletin of Burundi and on the website of the Banque de la République du Burundi.
Done in Bujumbura, on July 30, 2024
Edouard Normand BIGENDAKO Governor
1, Avenue du Gouvernement- P.O. Box 705 BUJUMBURA Tel. (257) 22204000 – (257) 22222744 - Fax (257) 22 22 3128-Email www.brb.bi