Regulatory Sandbox Launched for Financial Industry in Solomon Islands

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The Central Bank of Solomon Islands (CBSI) has launched an innovative regulatory sandbox to facilitate the testing of new financial products and services before commercial deployment. This framework provides a safe space for financial innovators to test their products and services, promoting innovation and efficiency in the industry.

What is the Regulatory Sandbox?

The CBSI Regulatory Sandbox Framework outlines the minimum requirements for admitting proposed solutions for testing, providing a framework for controlled live tests under close supervision. The sandbox allows applicants to test their products and services in a real-world environment while ensuring that they comply with regulatory requirements.

Key Features

• Provides a safe space for financial innovators to test their products and services
• Allows for controlled live tests under close supervision
• Minimum requirements for admitting proposed solutions for testing
• Framework for ensuring compliance with regulatory requirements

How to Apply

Applications and supporting documents must be submitted in PDF format, not exceeding 5MB. If attachments exceed this size, they can be sent separately via email, indicating that they relate to a single application.

Application Process

• Familiarize yourself with the objectives and principles of the sandbox
• Consult with CBSI prior to submission
• Submit applications and supporting documents in PDF format (not exceeding 5MB)
• Attachments exceeding 5MB can be sent separately via email, indicating that they relate to a single application

Contact Information

For more information on how to apply, contact the CBSI FSRD at regulatorysandbox@cbsi.com.sb.

Approved Applicants

The following table lists approved applicants for testing:

Note: This list is subject to change and may not be comprehensive.