Transcription of EXCHANGE CONTROL GUIDELINES FOR …
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EXCHANGE CONTROL GUIDELINES FOR …
1 | P a g e ECOGADLA 1/2015 EXCHANGE CONTROL GUIDELINES FOR authorised DEALERS with limited authority . 28 February 2015 ISSUED IN TERMS OF SECTION 35 (1) OF THE EXCHANGE CONTROL REGULATIONS STATUTORY INSTRUMENT 109 OF 1996 2 | P a g e 1. INTRODUCTION The GUIDELINES on authorised Dealers with limited authority (ADLA) are meant to assist both prospective applicants and operating ADLA with the basic information on regulatory framework and the requirements on licensing and operations of international money transfer services in Zimbabwe. The objective is to provide broad GUIDELINES with minimum standards that should nurture a competitive and secure international money transfer framework, with high consumer protection, fraud resistant and compliant to anti-money laundering and combating of terrorist financing (AML/CFT) principles. 2. REGULATORY AND COMPLIANCE FRAMEWORK PARAMETERS An authorised Dealer with limited authority (ADLA) shall be a financial services provider not necessarily licensed under the Banking Act [Chapter 24:20] but authorized by the central bank in terms of the EXCHANGE CONTROL Act to buy and sell foreign currency and carry out small value person to person cross border remittances through money transfer systems.
1 | p a g e ecogadla 1/2015 exchange control guidelines for authorised dealers with limited authority. 28 february 2015 issued in terms of section 35 (1) of the exchange control regulations statutory instrument
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