Regulatory Alerts2025-01-01
Operational Guidelines for Authorized Dealers with Limited Authority – Money Transfer Agencies and Bureaux de Change
The Reserve Bank of Zimbabwe has issued comprehensive operational guidelines governing Authorized Dealers with Limited Authority, specifically money transfer agencies and bureaux de change. The framework mandates online licensing across three operational tiers, requires real-time transaction reporting via the BDCTRS platform, and enforces strict know-your-customer and anti-money laundering protocols. Additionally, the guidelines standardize foreign currency trading margins, prescribe specific premises and equipment requirements, and outline clear license renewal procedures alongside defined penalties for regulatory non-compliance.
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