TITLE: Belarus National Bank Refines Approaches to Electronic Money Operations
BODY:
On June 26, 2026, the National Bank of the Republic of Belarus (NBRB) published clarification on improvements to approaches governing electronic money operations in Belarus. The NBRB's Board of Directors adopted Resolution No. 155 on June 25, 2026, which amends the Rules for Electronic Money Operations (the Rules). The amendments enter into force following official publication.
The key modification expands the scope of electronic money acquisition by legal entities and individual entrepreneurs. Under the amended Rules, these entities may now acquire electronic money with funds credited to their electronic wallets during electronic money issuance and distribution using monetary resources received from individuals in payment for goods, works, or services purchased by those individuals from the legal entities or individual entrepreneurs. This change permits a direct flow of consumer payments into electronic money holdings, streamlining the process for merchants and service providers accepting electronic payments.
The amendment reflects Belarus's ongoing efforts to modernise its electronic money framework and facilitate digital payment adoption. By enabling legal entities and individual entrepreneurs to accumulate electronic money directly from consumer transactions, the Rules create a more efficient mechanism for managing digital payment flows. This development is particularly relevant for retailers, service providers, and other business entities operating in Belarus that accept electronic payments from customers.
The amended Rules take effect upon official publication in Belarus's legal registry. Market participants, including payment service providers, merchants, and financial institutions involved in electronic money operations, should review the updated provisions to ensure compliance with the new requirements governing electronic money acquisition and management.