The Central Bank of the Solomon Islands has signed a Participation Agreement with Aelan Digital Services Limited under its Regulatory Sandbox (RSB) framework to begin testing a new Money Transfer Service (MTS) solution focused on remittances. The agreement sets the conditions and testing parameters for an 18-month pilot of a locally developed channel aimed at Solomon Islanders sending money to family members, with particular emphasis on seasonal workers abroad. During the test period, CBSI will monitor the service’s viability, scalability and performance, and assess potential risks and the solution’s fitness and propriety for possible wider deployment in the financial system. The MTS pilot is the fifth digital financial service admitted into CBSI’s RSB framework, with the sandbox test running for 18 months.
Central Bank of the Solomon Islands 2025-04-06
Central Bank of the Solomon Islands signs regulatory sandbox participation agreement with Aelan Digital Services to test a money transfer solution
The Central Bank of the Solomon Islands has signed a Participation Agreement with Aelan Digital Services Limited to test a new Money Transfer Service under its Regulatory Sandbox framework, focusing on remittances for Solomon Islanders, particularly seasonal workers abroad, over an 18-month pilot. This marks the fifth digital financial service admitted into the sandbox, with CBSI monitoring its viability, scalability, and potential risks.