Prepaid cards ended by the Central Bank. Part of efforts to combat money laundering

The Central Bank (BDL) has issued a ruling prohibiting banks from issuing or marketing prepaid cards. The decision, released through intermediate circular 415, also applies to other institutions that issue credit and loyalty cards.

The move is part of BDL's efforts to combat money laundering, said a banking source. The ruling pertains to anonymous cards, which could be easily used for money laundering purposes, the source said.

BDL gave the concerned parties till Sept. 30, 2016 as...

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