The Central Bank of the Solomon Islands has granted iumiCash Ltd a Money Transfer Service (MTS) licence, authorising the company to expand from domestic online services into overseas digital remittances. The licence allows iumiCash to facilitate online remittances through its e-wallet service, enabling users to send and receive money across borders via digital platforms. CBSI linked the approval to support provided through its regulatory sandbox and ongoing guidance, and highlighted expected benefits for underserved rural and remote communities and for Solomon Islanders working seasonally in Australia and New Zealand who remit funds back home. iumiCash also called for national interoperability to support seamless transactions between e-wallets and bank accounts.
Central Bank of the Solomon Islands 2025-04-07
Central Bank of the Solomon Islands grants iumiCash Ltd a money transfer service licence for online remittances
The Central Bank of the Solomon Islands has granted iumiCash Ltd a Money Transfer Service licence, enabling it to expand into overseas digital remittances. This approval, supported by the regulatory sandbox, aims to benefit underserved communities and facilitate remittances from Solomon Islanders working abroad.