From American Banker April 18, 2014 TBTF Feedback: "Too big to fail" is fading in...
Circular to All Licensed Banks
One page issuance by the governor covering four decisions in regards to “e-wallet” services:
1. Make sure that the telecommunications company that the bank deals with is licensed and authorized to provide e-wallet services
2. The required opening of a “Settlement Account” by the bank where sums received by the company’s customers are deposited, in exchange for electronic money units.
3. The bank shall monitor that account, with certain provisions as stipulated in the document.
4. The revoking of circular 0/2/2314