Regulatory Alerts2020-01-01
Decision on Detailed Requirements and Manner of Performing Bureau de Change Operations
The Council of the Central Bank of Montenegro issued this decision to regulate the detailed requirements and operational manner for bureau de change activities. It mandates that banks perform these operations directly or through authorized dealers, while imposing strict standards for premises, insurance, employee qualifications, and the public display of exchange rates and commissions. The regulation also caps bank commissions at 3 percent, requires specific transaction receipts, and reserves the exclusive right to buy Deutsch Mark and other euro area currencies for the Central Bank of Montenegro.
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