Regulatory Alerts2006-07-13
Added · Updated
Administrative Instruction No. 006 Modification 1 Regulating the Activity of Financial Messengers
The Central Bank of Congo regulates financial messengers by requiring prior approval, establishing two operational categories with specific security deposits of USD 5,000 and USD 10,000, and mandating compliance with anti-money laundering laws. The instruction sets a daily transfer limit of USD 10,000 per person, imposes a 2 per mille exchange control fee on commissions, and requires the formation of a professional corporation. Existing entities must regularize their status within three months, and violations are subject to disciplinary sanctions including fines, suspension, or license revocation.
No preview available
This document has no rendered thumbnail.