Regulatory Alerts2011-06-08
Regulation (NAP) - Foreign Exchange Operations Fee Schedule
The Central Bank of São Tomé and Príncipe establishes a standardized fee schedule for foreign exchange operations with commercial banks, specifying a single EUR 100.00 rate for transfers and zero percent fees for deposits and cash withdrawals. This regulation supersedes Permanent Application Regulation No. 19/2006 under the authority of Law 8/92 and Decree-Law 32/99, taking immediate effect upon issuance on 29 December 2009. The updated fee structure becomes fully operational on 1 January 2010, standardizing cost calculations across all qualifying banking transactions.
| Central Bank of S. T. P. | N A P PERMANENT APPLICATION REGULATION | CODE OG 01 |
|---|---|---|
| PROPOSER(S) D.O.G. | EFFECTIVE DATE 01/01/2010 | ISSUANCE DATE 29/12/2009 |
· Subject: Foreign Exchange Operations Fee Schedule
Since it is necessary to define the Central Bank's fee schedule for foreign exchange operations conducted with commercial banks, within the competence granted by Law 8/92 combined with Article 6 of Decree-Law 32/99, the Central Bank determines the following:
Article 1 Fee Schedule
- The following fee schedule is established, as shown in the table below:
| Type of Operation | Commission / Rate (%) | Minimum Limit | Maximum Limit |
|---|---|---|---|
| 1. Transfer Abroad | Single Rate - EUR 100.00 | ||
| 2. Deposits | 0% | ||
| 3. Foreign Currency Cash Withdrawals | 0% |
Article 2 Revocation
- Permanent Application Regulation No. 19/2006 of 07/12/2006 is hereby revoked.
Article 3 Effectiveness
- This Regulation takes effect immediately.
Central Bank of São Tomé and Príncipe, on 29 December 2009