Regulatory Alerts2009-12-31
Added · Updated
Regulation (NAP) - Regulation of Exchange Offices
The Central Bank of São Tomé and Príncipe issued this Permanent Application Standard to regulate the establishment, operation, and supervision of exchange offices in the country. The regulation mandates strict authorization procedures, minimum capital and guarantee requirements, and restricts authorized activities to foreign currency and coin transactions while prohibiting cross-border transfers. It further imposes rigorous reporting obligations, including daily statistical submissions, annual financial statements, and mandatory public display of exchange rates, with non-compliance subject to sanctions under Decree-Law No. 32/99.
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