Regulatory Alerts2021-08-10
Added
PSD Circular Letter No. 11: Continuation of Uninterrupted Banking and Payment Services in Response to COVID-19
The document establishes operating hours for payment platforms to ensure uninterrupted banking services during the COVID-19 pandemic. It mandates that Interbank Electronic Fund Transfer (IEFT) transactions via NPSB be processed between 12:00 PM and 3:00 PM, and 12:30 PM and 5:00 PM, while maintaining two sessions for IBFT according to their existing schedule. Additionally, it sets the operating window for Joint Cash Management System (JCMS) transactions from 10:00 AM to 4:00 PM, extending until 5:00 PM specifically for customs duties, fees, charges, and interbank transactions.
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