Regulatory Alerts2020-08-04 | 33679Added · Updated
E-Money Issuer Order, 2020
The Order establishes the regulatory framework for e-money issuers (EMIs) in Trinidad and Tobago, permitting entities such as Payment Service Providers, Money Remitters, and Mobile Network Operators to apply for registration with the Central Bank. It mandates specific capital requirements, the maintenance of Custodian Accounts for safeguarding customer funds, and strict risk management and anti-money laundering controls. The document defines permissible activities, prohibits co-mingling of funds and interest payments, and sets operational rules for agents, inactive accounts, and reporting obligations.