New rules for electronic money transactions in Belarus

The National Bank of Belarus has approved the rules for conducting transactions with electronic money, which began to operate on November 25, BelTA reported.

The law provides for the possibility of new non-financial organizations working with electronic money appearing on the market. The new rules describe the procedure for conducting transactions with electronic money, which they must follow (the procedure for interaction of participants in electronic payment systems, the procedure for acquiring and spending electronic money).

In addition, the rules regulate the procedure for the issuance, distribution, use, exchange and repayment of electronic money. The resolution can be found here. 

Previously, participants in the electronic money market carried out their activities on the territory of Belarus in accordance with the rules of 2003.

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