Regulatory Alerts2023-01-01
The Foreign Exchange (Bureau de Change) Regulations 2023
The Bank of Tanzania issued these regulations to establish a comprehensive licensing and operational framework for bureaux de change operating in Mainland Tanzania and Zanzibar. The rules mandate tiered capital thresholds, strict board governance, and mandatory spot transactions while permitting Class A entities to conduct money transfer services. Licensed operators must maintain minimum working capital, implement anti-money laundering procedures, issue electronic fiscal receipts, and submit regular financial reports to ensure regulatory compliance.
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