Through Resolution No. 26, Acta No. 55 dated November 14, 2024 (the "Resolution"), the Central Bank of Paraguay (BCP) approved the "Regulation on the Issuance of Electronic Deposit Certificates and Warrants", establishing the conditions for implementation by General Warehouses.
Purpose: To regulate the issuance of Deposit Certificates and Warrants in electronic format, fostering a secure and reliable environment for these operations.
Key Aspects:
- Electronic Issuance:
a) Deposit Certificates and Warrants can now be issued in electronic format, functionally equivalent to paper-based documents as per Law No. 6822/2021.
b) The issuance and endorsement must be carried out through Service Providers of Electronic Transferable Documents authorized by the Ministry of Industry and Commerce. - Authorization Requirements:
a) Warehouses must have adequate technological infrastructure and internal risk management procedures in place.
b) Supporting documentation, including resolutions and procedural manuals, must be submitted. - Mandatory Content: Electronic documents must include specific details such as the order number, description of the goods, insurance value, and qualified electronic signature.
- Monitoring and Oversight: The Superintendency of Banks will oversee the issuance, registration, and operation of these documents and may request detailed information as needed.
- Sanctions: Non-compliance with this regulation will result in penalties as established under Law No. 489/1995 and its amendments.
Protection and Transparency:
The regulation ensures security measures are implemented for the issuance and preservation of electronic documents, promoting transparency and efficiency in financial transactions.
The regulation will take effect upon publication, requiring General Warehouses to adhere to the established guidelines to operate in this digital format.
