Regulatory Alerts2015-01-01
Exchange Control (Authorised Dealers with Limited Authority) Order, 2015
The Reserve Bank of Zimbabwe has issued this order to regulate money transfer operators and bureau de change services as authorised dealers with limited authority for small-value cross-border remittances. The framework establishes three operational tiers, mandates minimum collateral deposits between fifty thousand and one hundred thousand United States dollars, and requires real-time electronic reporting alongside strict anti-money laundering compliance. Licensed entities must maintain ten-year records, pay annual licensing fees, and adhere to defined transaction limits while ensuring transparent pricing and timely fund delivery.
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