Regulatory Alerts2025-03-01
Regulation No. 088.2019/LBC-FT on Foreign Currency Deposit Procedures
The Central Bank of Guinea issued Regulation No. 088.2019/LBC-FT to establish minimum criteria and procedural requirements for accepting foreign currency cash deposits at its Main Agency. The regulation mandates that banks submit an electronic declaration via email within 48 hours prior to deposit, provide complete and reliable source-of-funds documentation, and ensure accredited management signatures. Funds with insufficient supporting documents are placed in a suspense account pending review by the LBC/FT Committee, while unused foreign currency returns require corresponding movement statements.
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