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ENABLING MOBILE MONEY POLICIES IN THE DEMOCRATIC REPUBLIC OF CONGO
Article 13:
Approval may be withdrawn from electronic money institutions in accordance with Articles 22, 23, and 77 of Act 003/2002 dated
February 2, 2002 relating to the Activity and Supervision of Financial Institutions.
CHAPTER II: PRUDENTIAL REGIME OF ELECTRONIC MONEY INSTITUTIONS
Article 14:
Business activities of electronic money institutions are limited to the delivery of services related to the issuance, management, and
delivery of electronic money, and to the storage of data on electronic media on behalf of other legal entities.
Article 15:
Electronic money institutions shall notify the Central Bank in advance of any significant change aecting the measures taken to protect
the funds received in exchange of electronic money issued.
Article 16:
The ownership equity of electronic money institutions shall remain at least equal to the highest of the following:
• Daily amount of inancial liabilities corresponding to issued electronic money;
• Simple average of daily amounts for the preceding six (6) months of the total liability amount corresponding to the issued
electronic money; or
• Amount of paid-in share capital.
Article 17:
The value of electronic money incorporated into any instrument issued by Electronic Money Issuing Institutions shall not exceed, at any
time, the equivalent of US$3,000 (three thousand US dollars), except when expressly authorised by the Central Bank.
The maximum daily payment amount shall not exceed US$500 (five hundred US dollars) and the maximum monthly payment amount
shall not exceed US$2,500 (two thousand and five hundred US dollars).
Article 18:
Electronic money institutions are not authorised to receive deposits from the public according to Article 6 of the Banking Act.
Any funds that are received by electronic money issuers shall not constitute a deposit or other repayable funds according to Article 6 of
the Banking Act, if they are immediately exchanged for electronic money.
They shall not bear interest or any other benefit for the period of time during which the Holder holds the electronic money.
The funds received in exchange of the issuance of electronic money are the sole surety of the holders. They are subject to the regime of
paper money and may, wherever they are, be sequestered, seized, or otherwise in order to withdraw them from such surety.
Article 19:
Electronic money institutions are not authorised to grant loans based on funds received or held for the purpose of issuing or
distributing electronic money.
Article 20:
The liabilities of electronic money institutions corresponding to the electronic money shall be fully covered by liquid assets.
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Article 13:
Approval may be withdrawn from electronic money institutions in accordance with Articles 22, 23, and 77 of Act 003/2002 dated
February 2, 2002 relating to the Activity and Supervision of Financial Institutions.
CHAPTER II: PRUDENTIAL REGIME OF ELECTRONIC MONEY INSTITUTIONS
Article 14:
Business activities of electronic money institutions are limited to the delivery of services related to the issuance, management, and
delivery of electronic money, and to the storage of data on electronic media on behalf of other legal entities.
Article 15:
Electronic money institutions shall notify the Central Bank in advance of any significant change aecting the measures taken to protect
the funds received in exchange of electronic money issued.
Article 16:
The ownership equity of electronic money institutions shall remain at least equal to the highest of the following:
• Daily amount of inancial liabilities corresponding to issued electronic money;
• Simple average of daily amounts for the preceding six (6) months of the total liability amount corresponding to the issued
electronic money; or
• Amount of paid-in share capital.
Article 17:
The value of electronic money incorporated into any instrument issued by Electronic Money Issuing Institutions shall not exceed, at any
time, the equivalent of US$3,000 (three thousand US dollars), except when expressly authorised by the Central Bank.
The maximum daily payment amount shall not exceed US$500 (five hundred US dollars) and the maximum monthly payment amount
shall not exceed US$2,500 (two thousand and five hundred US dollars).
Article 18:
Electronic money institutions are not authorised to receive deposits from the public according to Article 6 of the Banking Act.
Any funds that are received by electronic money issuers shall not constitute a deposit or other repayable funds according to Article 6 of
the Banking Act, if they are immediately exchanged for electronic money.
They shall not bear interest or any other benefit for the period of time during which the Holder holds the electronic money.
The funds received in exchange of the issuance of electronic money are the sole surety of the holders. They are subject to the regime of
paper money and may, wherever they are, be sequestered, seized, or otherwise in order to withdraw them from such surety.
Article 19:
Electronic money institutions are not authorised to grant loans based on funds received or held for the purpose of issuing or
distributing electronic money.
Article 20:
The liabilities of electronic money institutions corresponding to the electronic money shall be fully covered by liquid assets.
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