Basic banking service for businesses in Belgium: (almost) operational
On 16 January 2023, the Royal Decree regarding the basic banking service for businesses was published in the Belgian Official Gazette. This Decree establishes the "Basic Banking Services Chamber" which will examine applications from businesses wishing to benefit from the basic banking service and designate a bank that is obliged to provide such service. With the creation of the Chamber, the basic banking service for businesses is now almost operational with the Ministry of Economy expected to finalise the appointment of the members of the Chamber in the coming weeks.
Read more on the new legislative framework in our newsletter.