A Licensed Payment Token Service Provider’s aggregate regulatory capital shall consist of:
a)
Paid-up capital;
b)
Reserves, excluding revaluation reserves; and
c)
Retained earnings.
4.
In addition to the capital requirement, an unconditional irrevocable bank guarantee equal to the full paid-up capital amount in favour of the Central Bank paid upon first demand, shall be submitted to the Central Bank with the application of the License. Such a guarantee must remain in place at all times.
5.
Licensee must demonstrate that its regulatory capital and other financial resources are sufficient for implementing its business model in a safe, efficient and sustainable manner, without compromising the interests of Customers.
6.
A Licensee must provide adequate details to the Central Bank on the source of funds that will be used to support the proposed business activities.
7.
A Licensee must demonstrate that it will be able to maintain sufficient regulatory capital and other financial resources to facilitate an orderly wind-down of its Payment Token business, including a smooth refunding process.