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Suspension of New License Applications for Payment Service Providers and Money Transmission Businesses

Published: Friday November 29th, 2019

The Central Bank of The Bahamas advises the public that effective November 29, 2019, it is suspending the acceptance of license applications for non-bank payment services providers (PSPs) (for electronic money services) and non-bank money transmission businesses (MTBs). This moratorium will remain in effect until the end of 2020, at which time the Bank will review its position. In the interim the Central Bank will monitor adjustments among existing licensees to ensure orderly, sustainable developments in the payments and money services space.

For full-text reading, please download the attached document.

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