The Bank of Cape Verde, in collaboration with the World Bank, held a workshop on 23 September 2025 on reviewing the legal regimes for payment services, setting out proposed changes to the framework and encouraging market input into its ongoing public consultation. The proposals are intended to modernise the legal framework, strengthen legal certainty and reflect technological innovation, including bringing Open Banking into Cape Verde’s legal order. Participants included commercial banks, the Interbank Society and Payment Systems (SISP), microfinance institutions, fintechs, regulators, consumer associations, public entities and universities. The programme covered the treatment of non-banks and special regimes used in other jurisdictions, with BCV highlighting planned changes such as regulating new payment services and allowing exemption regimes for payment service providers, alongside World Bank examples of exemptions used in areas such as electronic money. The consultation, launched on 18 August 2025, covers draft legal instruments amending Legislative Decree No. 8/2018 and Legislative Decree No. 9/2018 on payment services and runs until 15 October 2025.
Bank of Cape Verde 2025-10-16
Bank of Cape Verde promotes consultation on payment services legal reforms including open banking through World Bank-backed workshop
The Bank of Cape Verde, in partnership with the World Bank, conducted a workshop on proposed changes to the legal framework for payment services, aiming to modernize regulations and incorporate Open Banking. The initiative seeks market input through a public consultation, addressing non-bank treatment and exemption regimes for payment service providers. The consultation involves amendments to Legislative Decrees No. 8/2018 and No. 9/2018.