Regulatory Alerts2024-09-01
Circular No. 001 of 2024 on the Activities of Electronic Money Issuing Payment Institutions
The Bank of the Republic of Burundi issues Circular No. 001/SP/2024 to regulate the issuance and distribution of electronic money by payment institutions, microfinance entities, banks, and the National Postal Service. The circular mandates a minimum share capital of one billion Burundian francs, establishes strict capital adequacy and technical security requirements, and prohibits these institutions from accepting public deposits or granting digital credit. It further outlines licensing procedures, partnership and distributor frameworks, internal control standards, and anti-money laundering obligations to ensure the safety and traceability of electronic money transactions.
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