Regulatory Alerts2009-12-31
Regulation (NAP) - Limits on Fees and Commissions Charged by Financial Institutions
The Central Bank of São Tomé and Príncipe (BCSTP) mandates maximum commissions and uniform exchange rates for foreign currency operations performed by authorized financial institutions. Financial entities must cap sales commissions at 2% for euros and 4% for other currencies, while internal euro purchases utilize a single published rate with no additional fees. Furthermore, authorized institutions are required to fully fulfill foreign exchange hedging requests and submit their exchange positions to maintain effective market control.
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