Regulatory Alerts2023-10-18 | 24334Added · Updated
Guidance for the Opening of E-Money Issuer Accounts Pursuant to the E-Money Issuer Order, 2020
The Central Bank of Trinidad and Tobago issues guidance requiring E-Money Issuers to maintain a custodian account holding unencumbered liquid assets that reflect outstanding e-money and a separate operating expenses account for initial capital. This capital must meet minimum requirements outlined in Schedule 2 of the E-Money Issuer Order, 2020, to ensure operational resiliency. Commercial banks licensed under the Financial Institutions Act, 2008, are advised to adhere to these account structures and associated governance standards.