Regulatory Alerts2025-09-17
Special Regulations No. 4230/2025-00042 [613] dated September 17, 2025 Concerning Business Operators Authorized to Receive Foreign Currency and the Requirements for Authorization
The National Bank of Rwanda issued Special Regulations No. 4230/2025-00042 on September 17, 2025, to establish categories of business operators authorized to receive foreign currency without prior approval and define the application procedure for others. The directive mandates that Rwandan Francs remain the legal tender for domestic contracts unless parties agree otherwise, requires authorized entities to quote and accept equivalent local currency at published exchange rates, and outlines specific eligibility criteria for sectors such as construction, tourism, finance, and education. It further establishes a 20-day review period for applications, grounds for suspension or revocation of authorization, record-keeping obligations, and a six-month transitional period for existing foreign-currency contracts.