1. An electronic register named ‘Register of Licensed Financial Institutions’ shall be created at the Central Bank, to which names of Licensed Financial Institutions and their related data and any amendments thereto, shall be entered. A decision setting the rules and conditions for entry to such register shall be issued by the Board of Directors. Decision to license such institutions and any amendments thereto, shall be published in the Official Gazette. This register shall be published on the Central Bank’s official website. 2. A Licensed Financial Institution shall not commence any Licensed Financial Activity except after its name was entered to the register. 3. Proceeds of fees pertaining to entry to the register, referred to in item (1) of this article, and licensing fees shall be deposited in a special account with the Central Bank. A decision shall be issued by the Board of Directors organizing operation of such account, and setting rules for disbursement thereof.
Interpretation and application must be checked against the official text and current version.