Regulatory Alerts2025-09-17
Directive No. 4230/2025-00042 Governing Persons Authorized to Transact in Foreign Currencies and Authorization Requirements
The National Bank of Rwanda issues this directive to identify automatically authorized categories for receiving foreign currency payments and establish a standardized authorization process for other persons. Applicants must demonstrate foreign currency business needs, maintain licensed accounts, and submit documentation to the Non-Bank Financial Institutions Department, with the Central Bank granting or denying authorization within twenty working days. Authorized dealers cannot refuse Rwandan Franc payments or impose surcharges when displaying foreign currency prices, must retain transaction records for ten years, and face suspension or revocation for non-compliance, while existing foreign currency contracts benefit from a six-month transition period.