Regulatory Alerts2012-06-19 | Resolución 071/2012Added · Updated
Resolution 071/2012 Approving the Regulation for International Remittance Transfers
The Central Bank of Bolivia approves a regulation governing international remittance transfers (IRTs) applicable to financial intermediation entities and payment service providers authorized by the Financial System Supervisory Authority (ASFI). The rule establishes the Central Bank as the oversight authority for IRTs and ASFI as the supervisory authority, mandating the publication of minimum and maximum exchange rates, transparent fee structures, and consumer protection measures. Authorized entities must comply with anti-money laundering controls and adapt their internal operations to the new standards within 360 calendar days from the resolution's approval.