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Notice of the Release of the Central Bank of The Bahamas' Payment Instruments (Oversight) Regulations, 2017

Published: Thursday July 27th, 2017

Contained in the Publications Section of this website, is the final version of the 'Payment Instruments (Oversight) Regulations, 2017' and the 'General Information and Application Guidelines for Providers of Electronic Retail Payment Instruments and Electronic Money Products (Payment Service Providers)'. It replaces the draft Regulations and Guidelines posted on this website on the 16th May, 2017. As a result of this exercise, minor clarifications have been made. Further note, that The Central Bank of The Bahamas is working on preparing guidance on simplified due diligence for low value payments instruments.

These Regulations and Guidelines outline the Central Bank's mandatory requirements for an institution to qualify to hold a non-bank Payment Service Provider license in The Bahamas. They apply to institutions which are currently incorporated in The Bahamas under The Companies Act, 1992.

Licensees (or their managing agents) with any doubts or questions concerning these Regulations and Guidelines and their applicability, should contact:

The Payments Unit of The Central Bank of The Bahamas Frederick & Market Streets P. O. Box N 4868 Nassau, Bahamas.

Tel (242) 322-2193 Fax (242) 356 4324 Email: [email protected]

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