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ENABLING MOBILE MONEY POLICIES IN THE DEMOCRATIC REPUBLIC OF CONGO
Title III: ISSUANCE AND DISTRIBUTION REGIME OF ELECTRONIC
MONEY AND THE AGENTS
Article 32:
Electronic money issuers may distribute or redeem electronic money through legal entities or individuals. They may hire one or more
agents to perform, on their behalf and within the limits of their approval and authorisation, electronic money activities, provided any
related requirements set out by the Central Bank are met.
Article 33:
The agreements signed between Electronic money issuers and other parties shall contain the list of entities that are part of the network
and the elements facilitating the identification and recognition of distributor or agents, including brand, logo, window sticker, company
name, or business name.
The electronic money issuers shall maintain the list of entities that are part of its network. This updated list must be submitted to the
Central Bank on a monthly basis.
Article 34:
Electronic money issuers shall submit to the Central Bank information about the agents they employ.
The same agent may be given mandates by several electronic money issuers.
Article 35:
Electronic money issuers will remain liable to third parties for all actions of any agent they have mandated to deliver financial services
in accordance with the agreement between the issuer/distributor and the agent.
Electronic money issuers must ensure that their agents comply with their internal controls, including AML/CFT controls.
Title IV: PENALTIES
Article 36:
Any violation of the provisions of this Directive will result in the application of penalties in accordance with Articles 77 et seq. of Act
003/2002 dated February 2, 2002 relating to the Activity and Supervision of Financial Institutions.
Title V: FINAL PROVISIONS
Article 37:
This Directive shall take eect as of the date of its signing.
Signed in Kinshasa, on the 11 December 2011
J-C. MASANGU MULONGO
Governor, Central Bank of Congo
22
Title III: ISSUANCE AND DISTRIBUTION REGIME OF ELECTRONIC
MONEY AND THE AGENTS
Article 32:
Electronic money issuers may distribute or redeem electronic money through legal entities or individuals. They may hire one or more
agents to perform, on their behalf and within the limits of their approval and authorisation, electronic money activities, provided any
related requirements set out by the Central Bank are met.
Article 33:
The agreements signed between Electronic money issuers and other parties shall contain the list of entities that are part of the network
and the elements facilitating the identification and recognition of distributor or agents, including brand, logo, window sticker, company
name, or business name.
The electronic money issuers shall maintain the list of entities that are part of its network. This updated list must be submitted to the
Central Bank on a monthly basis.
Article 34:
Electronic money issuers shall submit to the Central Bank information about the agents they employ.
The same agent may be given mandates by several electronic money issuers.
Article 35:
Electronic money issuers will remain liable to third parties for all actions of any agent they have mandated to deliver financial services
in accordance with the agreement between the issuer/distributor and the agent.
Electronic money issuers must ensure that their agents comply with their internal controls, including AML/CFT controls.
Title IV: PENALTIES
Article 36:
Any violation of the provisions of this Directive will result in the application of penalties in accordance with Articles 77 et seq. of Act
003/2002 dated February 2, 2002 relating to the Activity and Supervision of Financial Institutions.
Title V: FINAL PROVISIONS
Article 37:
This Directive shall take eect as of the date of its signing.
Signed in Kinshasa, on the 11 December 2011
J-C. MASANGU MULONGO
Governor, Central Bank of Congo
22
