Regulatory Alerts2022-05-04
Reminder Note Regarding Circular 114-2
The Bank of the Republic of Haiti (BRH) mandates that banks and money transfer houses ensure their sub-agents strictly comply with Circular 114-2 by publicly displaying and applying the BRH's published reference and average acquisition rates for all international remittance transactions. Financial institutions must also submit quarterly reports to the BRH detailing any sub-agent violations and the corresponding disciplinary actions taken. Non-compliance with these monitoring and reporting obligations will result in sanctions under Section 5 of Circular 114-2.
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