Regulation of electronic money - Star Headlines

Parliamentary Planning and Budget Commission, Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions agreed principles and procedures for determining the bill.

Payment and Securities Settlement Systems, Payment Services and Electronic Money organizations draft law determines the rules and principles, the Planning and Budget Commission of the Parliament was adopted.

According to the draft

;

-payment provider can not be found in the lending business,

-through banks to carry out the activities of electronic money institutions,

-up to fund the

establishment of e-money issuer will issue electronic money,

-electronic money institution can not be found in the lending business.

Under the bill, payments and electronic money institutions branch, representative or outside services to their audit firms to be authorized BRSA.

Funds canceled in case of liquidation of the fund’s operating permission or compensation for the rights to use and to ensure fulfillment of the obligations. In lieu of money or monetary instruments or securities of the system operator guilty of embezzlement, payment institutions and electronic money institution authorized and officials sentenced to jail terms of 6 years to 12 years. BRSA vice president, increased the number of departments and directorates.