Regulatory Alerts1996-01-01
Directive No. 7/DSB/96 on Exchange Houses
The Banking Supervision Directorate issues Directive No. 7/DSB/96 to mandate that exchange houses deposit all purchased foreign banknotes and travel checks into the D.O.- ME account. This requirement aligns with recent government amendments to foreign exchange policy measures. The directive simultaneously reaffirms that exchange houses are exclusively authorized to conduct foreign currency and travel check transactions as outlined in Notice No. 10/96 of June 28.
DIRECTIVE NO. 7/DSB/96
SUBJECT: EXCHANGE HOUSES Exchange Houses are exclusively engaged in the purchase and sale of foreign banknotes and currencies or travel checks (Travellers Checks), as defined in Article 11 of Notice No. 10/96 of June 28. Considering the changes to the foreign exchange policy measures previously established by the Government, Exchange Houses must deposit in the D.O.- ME Account the travel checks and foreign banknotes purchased at their counters. This Directive enters into force immediately.
BANKING SUPERVISION DIRECTORATE