Regulatory Alerts2021-09-18
Added · Updated
Circular 101-4 on Standards for Payment Card Transactions
The Banque de la République d'Haïti mandates that all payment card transactions, whether domestic or international, be settled exclusively in Haitian gourdes, with the amount displayed in gourdes at the point of sale. International transactions must be converted using the Average Acquisition Rate (TMA), and issuers must itemize exchange rates and fees on account statements, with international transaction fees capped at 2.75%. Financial institutions are required to submit monthly electronic reports detailing these rates and fees by the third day of each month, subject to penalties of HTG 50,000 per day for late reporting and HTG 500,000 per infraction for billing non-compliance. This circular repeals Circular No. 101-3 and entered into force on October 1, 2021.
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