Circular No. 93/2021 of 16 March - Implementation of Containment Measures for the SARS-CoV-2 Epidemic in Timor-Leste

Circular No. 93/2021 of 16 March

Implementation of Containment Measures for the SARS-CoV-2 Epidemic in Timor-Leste

Considering the continued spread of SARS-CoV-2 in Timor-Leste and the measures taken by the Government to contain the spread of the virus.

Considering the need to maintain public access to basic financial services.

Taking into account the powers attributed to the Central Bank of Timor-Leste under Article 5, paragraph j.) of Law No. 5/2011, of 14 April (Organic Law of the Central Bank of Timor-Leste), which grants this Central Bank exclusive powers to regulate, license, register, and supervise financial institutions in Timor-Leste.

The Governor, exercising the competence attributed to him by Article 46 of the aforementioned Law, determines the following:

(1). Authorize financial institutions to reduce the scope of their operations in localities identified in the implementation phase of the mandatory confinement determined by the Government.

(2). Instruct financial institutions to continue ensuring public access to essential financial services.

(3). In municipalities not included in the Government's deliberation, financial services made available to the public shall remain unchanged.

(4). The financial institutions referred to in the preceding paragraphs refer, without exclusivity, to the following institutions:

a). Banks, including other institutions that may legally accept deposits;

b). Insurance companies;

c). Money transfer operators; and

d). Fintech companies.

(5). Financial institutions shall observe the following provisions, insofar as they are applicable to them:

a). Maintain public access to cash withdrawals through channels such as treasury counters, automated teller machines (ATM), and other channels usually available in the national territory.

b). Adjust the maximum withdrawal limit on automated teller machines (ATM) to US$ 1,000 (one thousand US dollars) per day.

c). Ensure at all times the availability of cash in automated teller machines (ATM) in the national territory, maintaining the minimum operational threshold at 98%.

d). Ensure that all electronic payment channels remain operational at all times, including e-wallet services.

e). Continue to make other financial services available to the public, including but not limited to credit granting, transfers, etc.

f). Define that all cash withdrawals by individuals with a value below US$ 1,000 (one thousand US dollars) be made through automated teller machines (ATMs).

(6). Determine that the operating hours of financial institutions for public service be from 9:30 a.m. to 2:00 p.m. in locations where mandatory confinement measures are implemented.

(7). The operations of the R-TiMOR and P24 systems shall remain in the usual manner.

(8). Financial institutions maintain the obligation to submit statistically defined reports in accordance with relevant instructions.

(9). Financial institutions shall strictly observe the preventive measures implemented by the Government in the national territory.

(10). Revoke Circular Letter 92/2021 on the Implementation of Special Measures to Contain the Spread of SARS-CoV-2 in the Municipality of Dili, issued on March 8, 2021.

(11). This deliberation shall remain in force until its revocation.

The provisions of this Circular shall apply from March 16, 2021.

Governor,

Abraão de Vasconselos

CENTRAL BANK OF TIMOR-LESTE
Avenida Xavier do Amaral
No. 09 P.O. BOX 59
Posto Administrativo Nain Feto
Suco Gricenfor, Aldeia Formosa
DILI, TIMOR-LESTE
T: +670 331 371 2 / 4 / 5 / 8
F: +670 331 371 3 / 6 / 7
E: Info(at)bancocentral.tl