Regulatory Alerts2018-02-06 | 006 2018 SGDB EXTAdded · Updated
SGDB No. 006/2018: Procedure for No Objection to New Electronic Payment Services or Instruments
The Central Bank of Bolivia establishes the mandatory procedure for financial entities to obtain a no-objection response before incorporating new electronic payment services or instruments into their operations. Entities must submit a detailed note to the General Management describing the service, including functional descriptions, security features, operational processes, contingency plans, and training strategies. Upon review, the Central Bank issues a written no-objection or objection with technical justification, which the entity must then attach to its authorization request submitted to the Financial System Supervision Authority (ASFI).