MONACO, 16 March 2026 — Monaco’s National Council has received Bill No. 1,124, which seeks to strengthen the right to open a bank account established by the Law of 8 July 2020, while preserving anti-money laundering and counter-terrorist financing requirements.
Under the bill, banks would have 45 working days to process a complete application. If a bank failed to respond within that period, its silence would be treated as an implicit refusal, allowing the applicant to ask the Budget and Treasury Department to appoint another institution.
The scheme would also be extended to holders of joint accounts seeking an individual account and to customers who have been notified that their existing account will be closed. The latter could begin the procedure before the closure takes effect.
The bill also provides for written notification of refusals, the possibility of requesting the appointment of another bank, and an expedited court procedure to challenge certain refusals or account closures.
Derived from a proposal adopted by the National Council in October 2024, the bill must still be examined and passed before entering into force.