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RBZ invites people to register as bureaux de change

by Staff reporter
12 Jul 2017 at 06:51hrs | Views
THE Reserve Bank of Zimbabwe (RBZ) is inviting individuals and businesses interested in operating bureaux de change to register with the monetary authority.

In a statement, RBZ said it was inviting applications to operate bureaux de change as a way to enhance the ease of doing business and promote financial inclusion.

"In an effort to enhance the ease of doing business and foster financial inclusion and the level of participation in the financial services sector, the RBZ is inviting all interested individuals and institutions to register as bureaux de change under the authorised dealers with Limited Authority framework as provided for under Exchange Control (Authorised Dealers with Limited Authority Order 2015, Statutory Instrument of 2015," said RBZ.

The Central bank said there was a limited number of licensed bureau de change in the country with the majority of urban centres, ports of entry or exit having no formal bureaux de change services.

"Currently, there is a limited number of licensed bureau de change with the majority of urban centres, including ports of entry or exit, having no formal bureaux de exchange services.

"Accordingly, interested parties are being called to embrace this opportunity and provide bureau de change services to the public and travellers and enhance access to formal services for exchange of currencies in the country's multi-currency system including bond note," it said.

The monetary authority said it has with immediate effect reviewed the regulatory framework governing the operations of bureaux de change to allow increased participation in line with the initiatives towards improving ease of doing business.

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Source - chronicle
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