Regulation No. 001/25 Amending and Completing the Foreign Exchange Regulation of March 28, 2014

BANQUE CENTRALE DU CONGO

THE GOVERNOR

REGULATION NO. 001/25 AMENDING AND COMPLETING THE FOREIGN EXCHANGE REGULATION OF MARCH 28, 2014

The Central Bank of Congo,

Having regard to Organic Law No. 18/027 of December 13, 2018, governing the organization and functioning of the Central Bank of Congo, particularly Article 69;

Having regard to Law No. 22/068 of December 27, 2022, combating money laundering and the financing of terrorism and the proliferation of weapons of mass destruction, particularly Article 69;

Having regard to Special Law No. 73-009 of January 5, 1973, on commerce, as amended and supplemented to date, particularly Article 12;

Having regard to Ordinance-Law No. 67/272 of June 23, 1967, relating to the regulatory powers of the National Bank of Congo in matters of foreign exchange regulation, as amended and supplemented to date;

Having regard to the need to strengthen the monitoring of authorizations for the conveyance of funds in foreign currencies within national territory and to control the circulation of cash sums equal to or greater than 10,000 US dollars or their equivalent in other foreign currencies;

Enacts the following provisions:

Article 1:

It is prohibited, in the Democratic Republic of Congo, for any natural person acting on their own behalf or on behalf of a third party, whether natural or legal person, to leave one territory for another territory or city, or to leave one city for another city or territory, with a cash sum equal to or greater than 10,000 US dollars or its equivalent in other foreign currencies. Sums exceeding this ceiling must be subject to a bank transfer.

This prohibition ceases when the concerned territory and city do not have branches of credit establishments, financial companies, or other authorized financial institutions.

563, Boulevard Colonel Tshatshi - Kinshasa - Gombe Email: sgouverneur@bcc.cd - Website: http://www.bcc.cd

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Article 2:

Credit establishments, financial companies, and other authorized financial institutions are authorized, in the Democratic Republic of Congo, to convey by themselves or through their contractors banknotes of an amount equal to or greater than 10,000 US dollars or its equivalent in other foreign currencies, from one territory to another territory or city, and from one city to another city or territory, subject to prior authorization from the Central Bank of Congo.

Article 3:

Credit establishments, financial companies, and other authorized financial institutions request authorization from the Central Bank of Congo by providing the following information:

• the name of the requesting institution;
• the amount to be conveyed;
• the details of the packaging;
• the place of origin of the funds;
• the destination place of the funds;
• the means to be used for the conveyance of funds;
• the complete identification of the natural or legal person ensuring the conveyance of funds.

Article 4:

The request for authorization for the conveyance of banknotes in foreign currencies of an amount equal to or greater than 10,000 US dollars or its equivalent in other foreign currencies is addressed, via the dedicated application set up by the Central Bank of Congo, to the Organizational Entity responsible for monitoring foreign exchange operations within its purview.

The procedures related to the request for authorization for the conveyance of funds and its processing, via the dedicated application set up by the Central Bank of Congo, are set out in the corresponding user manual.

The validity of a fund conveyance authorization in force at the entry into force of this Regulation will expire in accordance with the provisions in force at the time the fund conveyance authorization was granted.

Article 5:

Paper-based authorization requests are authorized only in entities not connected to the application referred to in Article 4 above, or in case of connection problems for entities having access to the application. It is addressed to the Central Bank of Congo/the Organizational Entity responsible for monitoring foreign exchange operations within its purview.

563, Boulevard Colonel Tshatshi - Kinshasa - Gombe Email: sgouverneur@bcc.cd - Website: http://www.bcc.cd

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Article 6:

When all elements required under Article 3 above are transmitted to the Central Bank of Congo via the application referred to in Article 4 above, it has two working days to grant the authorization for the conveyance of funds.

In the event of transmission of the authorization request on paper support, the period mentioned in the preceding paragraph runs from the receipt of the request by the Organizational Entity responsible for monitoring foreign exchange operations within its purview.

Article 7:

The validity period of an authorization for the conveyance of funds within national territory is seven (7) working days from its withdrawal by the bank or financial institution approved by the Central Bank of Congo.

At the time of said withdrawal, the Central Bank of Congo mentions the date on the authorization to mark its effective date.

Article 8:

When the conveyance of funds is carried out, the requesting institution has seven (7) working days to transmit to the Central Bank of Congo the exact date on which the conveyance of funds took place and to post the documents below via the dedicated application:

• the original of the fund conveyance authorization issued by the Central Bank of Congo;
• the photocopy of the mission order of the person who ensured the conveyance of funds, bearing the seals of the competent administrative authorities of the destination place of funds;
• proof that the conveyed funds, according to the packaging indicated in Article 3 above, have indeed arrived at their destination;
• proof that the carrier specified in the fund conveyance authorization request is the one who effectively carried out the operation.

Article 9:

Administrative fees related to the request for authorization for the conveyance of funds in foreign currencies are defined in the Tariffs and Conditions of Operations of the Central Bank of Congo.

Article 10:

Failure to comply with this Regulation exposes the offender to sanctions provided for in the Tariffs and Conditions of Operations of the Central Bank of Congo.

563, Boulevard Colonel Tshatshi - Kinshasa - Gombe Email: sgouverneur@bcc.cd - Website: http://www.bcc.cd

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Article 11:

Any question relating to this Regulation that is not dealt with by its provisions is submitted to the Central Bank of Congo.

This Regulation repeals Regulation No. 003/18 amending and completing the Foreign Exchange Regulation of March 28, 2014, and all previous provisions contrary thereto. It enters into force on the date of its signature.

Done in Kinshasa, on APRIL 16, 2025

MALANGU KABEDI MBUYI Governor

563, Boulevard Colonel Tshatshi - Kinshasa - Gombe Email: sgouverneur@bcc.cd - Website: http://www.bcc.cd