Regulatory Alerts2023-10-16
Added · Updated
Licensing and Authorization of Payment Instrument Issuers Directive No. ONPS/09/2023
The National Bank of Ethiopia establishes requirements for licensing and authorizing payment instrument issuers, mandating a minimum paid-up capital of Birr 50,000,000. The directive outlines application procedures, including the submission of business plans, operational policies, and risk management frameworks, and allows for a pilot period of up to six months. It further specifies fit and proper criteria for directors and executive management, requiring prior National Bank approval for appointments and detailed professional qualifications.
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