Regulatory Alerts2025-09-01
Added · Updated
Requirements for competence and technical eligibility for key officials of payment system operators and payment service providers
Payment institutions must obtain prior written approval from the Central Bank before appointing candidates to key positions, including board members, CEOs, regional managers, and heads of executive, support, and supervisory departments. Candidates must meet minimum criteria for credibility, integrity, and competence, and institutions are required to submit detailed nomination packages, including CVs and organizational structures, while verifying the accuracy of all provided information. The Central Bank retains the authority to approve, reject, or revoke nominations, and institutions must notify the regulator within three working days of any changes in an official's status or evidence of incompetence.
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