Regulatory Alerts2017-03-30
Added · Updated
PSD Circular Letter No. 01: Amendment of PSD Circular No. 01/2016 and 03/2016
The document amends PSD Circular No. 01/2016 to require banks with 20 or more ATMs to inspect at least 20 ATMs monthly, while banks with fewer than 20 must inspect all ATMs, retaining inspection reports for at least one year. It also amends PSD Circular No. 03/2016 to prohibit Cash on Delivery (COD) services for hotel bookings made online, while allowing COD for other sectors subject to security and booking availability assessments, with only one bank permitted to offer COD at any specific hotel. These amendments take effect immediately.