Regulatory Alerts2020-01-01
Decision on Detailed Conditions for Providing Activities of the Payment Service Agent
The Council of the Central Bank of Montenegro issued this decision to establish detailed conditions and registration procedures for payment service agents. It mandates that agents must be registered in specific central bank registers based on their sponsoring provider and meet strict requirements regarding internal controls, technical infrastructure, and the good reputation of their governing bodies. The document outlines the documentation required for registration, the obligations of payment service providers to notify the Central Bank of changes, and the consequences for non-compliance or failure to register within the prescribed timeframe.
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