Directive on the Internal Organization and Governance of Electronic Money Institutions 2026

E.E. Part III(I) C.D.P. 245/2026
No. 6026, 29.5.2026
Number 245
THE LAW ON ELECTRONIC MONEY 2012 TO 2018

81(I) of 2012
30(I) of 2018.
Directive pursuant to Article 45 of the Law on Electronic Money 2012 and 2018 Short title.

1. This Directive shall be known as the Directive on the Internal Organization and Governance of Electronic Money Institutions 2026.
   Interpretation. 2.-(1) In this Directive, unless the context otherwise requires- “advisers or directors” of electronic money institutions, has the same meaning as the term “senior management” as defined in the Directive on the Internal Organization and Governance of Payment Institutions 2026, mutatis mutandis with respect to electronic money institutions; “institution” means an electronic money institution as defined in the Law on Electronic Money 2012 and 2018; “Law” means the Law on Electronic Money 2012 and 2018. (2) Terms not defined in this Directive have the meaning given to them by the Law. (3) In this Directive, any reference to a law or regulatory administrative act of the Republic means such law or regulatory administrative act as amended, modified or replaced from time to time, unless the context otherwise requires. Scope of application.
2. This Directive applies to institutions.
   Purpose of the Directive.
3. This Directive establishes-
   (a) a sound governance framework that aligns with and promotes the principles of sound and effective management of the institution, (b) requirements regarding the development, implementation and effective monitoring of internal governance mechanisms to ensure effective and prudent management of the institution, (c) appropriate and effective procedures and safeguards for the identification, management, monitoring and reporting of risks to which the institution is or may be exposed, including risks of non-compliance with the applicable regulatory framework, (d) adequate internal control mechanisms, including compliance mechanisms related to the prevention and combating of money laundering from illegal activities and the financing of terrorism. By analogy application of the Directive on the Internal Organization and Governance of Payment Institutions 2026.
4. Without prejudice to the provisions of this Directive, the Directive on the Internal Organization and Governance of Payment Institutions 2026 applies by analogy to electronic money institutions:
   It is understood that the terms used in the aforementioned Directive have the meaning given to them by the aforementioned Directive, unless otherwise defined in this Directive. Entry into force.
5. The provisions of this Directive enter into force from the date of its publication in the Official Gazette of the Republic.
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