Regulatory Alerts2026-08-31
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Meeting of the National Bank Council
The National Bank Council adopted a decision establishing the leading number of payment service providers and standards for constructing payment accounts to align with international and SEPA standards. The decision mandates the use of IBAN as the unique identification code for payment accounts in national payment transactions. As of 1 November 2026, all national payment transactions must be initiated, processed, and executed using IBAN.
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