The Central Bank prevents electronic payment service providers from providing loans and advancesTuesday, May 28
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The central bank announced on Tuesday that it was preventing electronic payment service providers from offering loans and advances in contravention of the Banking Law.
"As the bank is the sector body responsible for organizing and monitoring the work of electronic payment providers, we would like to point out that the above companies are not allowed to provide credit services (loans and advances) for their conflict with The Banking Law No. 94 of 2004 and the license granted to them under the electronic payment services system of funds No. (3) for the year 2014 ".
The statement stressed that "not to contract with the above companies or with their agents / outlets for the purpose of providing credit facilities in all forms."