E-Money Policy Circular Letter

CENTRAL BANK OF TRINIDAD & TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-2288, 235-2288; Fax: (868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

August 8, 2019

CIRCULAR LETTER TO:
ALL FINANCIAL INSTITUTIONS
FINANCIAL INSTITUTIONS ASSOCIATIONS
REGULATORS
PAYMENT SYSTEM OPERATORS
PAYMENT SERVICE PROVIDERS
GOVERNMENT MINISTRIES
INDIVIDUALS/ENTITIES

REF: CB-OIFI-2171/2019

STAKEHOLDER FEEDBACK – E-MONEY POLICY AND MINISTERIAL ORDER

On November 21st 2018, the Central Bank of Trinidad and Tobago (‘Central Bank/ Bank’) issued a draft E-Money Policy (‘draft Policy’) and Ministerial Order for review and comments. The draft Policy sought to inform a Ministerial Order for the “Category of Persons other than Licensed Financial Institutions who can Issue E-Money” in accordance with Section 17(4) of the Financial Institutions Act Chap 79:09.

The Central Bank having carefully considered all comments and recommendations provided has finalised its Policy, which will be submitted to the Minister of Finance. Additionally, the responses to the specific comments provided can now be accessed on the Bank’s website at https://www.central-bank.org.tt/core-functions/financial-stability/payments-systems.

The Bank takes this opportunity to express its gratitude and appreciation to all stakeholders who provided feedback on the draft Policy and Ministerial Order including licensees, regulatory bodies, government ministries, payment system operators, payment service providers, entities and individuals that have expressed interest in engaging in e-money issuance.

The Central Bank looks forward to your continued support and co-operation in advancing electronic payments in Trinidad and Tobago.

Yours sincerely

Patrick Solomon
INSPECTOR OF FINANCIAL INSTITUTIONS