Regulatory Alerts2019-01-01
Guidance Note on Transitioning to the Financial Institutions Act for Existing Money or Value Transmission Service Providers
The Central Bank of Barbados issued this guidance to require existing Money or Value Transmission Service Providers to apply for a licence under the amended Financial Institutions Act. Applicants must submit their applications within three months of the note's issuance and include a simultaneous request for foreign currency dealing permission. The Bank will process complete applications within three months and assign a Relationship Officer for ongoing supervision once the licence is granted.
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