National Bank of Rwanda - Regulation No. 07/2010 - On Electronic Fund Transfers and Electronic Money Transactions


Electronic funds transfers and electronic money transactions include those carried out through or by means of, or a combination of the following: point-of-sale (POS) terminals; automatic teller machines (ATMs), telephonic instruments, including mobile phones; and stored value, credit and debit cards. The National Bank of Rwanda's Regulation No. 07/2010 establishes the rules governing the enforcement, as well as the rights and/or obligations in the provision, of fund transfers executed, either totally or partially, by electronic or other automated means. In addition, the regulation sets forth rules to protect natural persons being the users of payment instruments and facilities employing electronic devices or facilities to execute money transactions. The regulation is divided into several chapters, and outlines provisions on the following topics:

1. Electronic Fund Transfers
2. Erroneous and Unauthorized Fund Transfers
3. Standard Terms and Conditions
4. Investigation and Resolution Procedure
5. Privacy
6. Waiver of Rights and Greater Protection
7. Special Regime or Derogation

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Thursday, December 30, 2010
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National Bank of Rwanda
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