Regulatory Alerts2025-05-23
Regulation No 89/2025 Amending Regulation No 42/2022 on Foreign Exchange Operations
The National Bank of Rwanda issued Regulation No 89/2025 to amend its foreign exchange framework by clarifying resident and non-resident definitions, and explicitly permitting foreign currency payments for imports and exports. The amendment introduces strict administrative pecuniary sanctions for unauthorized foreign currency pricing and transactions, imposing fixed fines or percentage-based penalties on transacted amounts, with a 15-day payment window and daily delay charges reported to the Credit Bureau. It also establishes a mandatory whistleblowing mechanism for reporting unauthorized foreign exchange operations and grants legal protection to informants, with the regulation taking effect upon publication.
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