Banking Act (Cap. 371), article 19B

19B. (1) Credit institutions shall grant payment institutions, electronic money institutions and account information service providers access to a credit institution’s payment account serv ices on an objective, non-discriminator y and proportionate basis. (2) The access referred to in sub -article (1) shall be sufficien tly extensive as to allow payment institutions, electronic money institutions and account information service providers to provi de payment services in an unhinde red and efficient manner. (3) In the event that a credit institution does not allow a payment institution, an electronic money institution, or an acc ount information service provider, to have access to the credit inst itution’s payment account services, such in stitution shall provide the co mpetent authority with duly motivated r easons for any such rejection. BANKING [CAP. 371. 51 (4) The competent authority shall, in case of an event as referred to in sub-article (3), notify the Central Bank of said event together with the reasons provided by the credit institution, w ithout undue delay. Management of operational and security risks. Added by: XXVI.2019.9. Amended by: XI.2025.32.