Regulatory Alerts2012-02-17
Added · Updated
Administrative Instruction No. 007 Regulating the Activity of Exchange Offices (Modification No. 1)
The Central Bank of Congo regulates exchange offices by requiring prior approval, a USD 2,500 security deposit, and adherence to operational standards including mandatory equipment and professional corporation membership. The regulation prohibits transactions exceeding USD 10,000 per person per day, bans deposit-taking and lending, and mandates daily reporting and suspicious transaction reporting. Non-compliance results in disciplinary sanctions ranging from reprimands to license withdrawal, with fines payable within thirty days.