Nicaragua: New Regulations for Exchange Bureaus

Henceforth, the Central Bank will be responsible for issuing operating licenses for exchange bureaus and remittance service providers operating in the country.

Friday, March 20, 2020

Resolutions CD-BCN-LIX-1-19 and CD-BCN-LIX-2-19 were published in the Official Journal, La Gaceta, on March 19, 2020, by which the Board of Directors of the BCN authorized the "Regulations for Providers of Foreign Exchange and/or Purchase Services" and the "Regulations for Remittance Payment Services", respectively, reported the Central Bank of Honduras.

The statement explains that "... The aforementioned Regulations contain provisions for the registration and/or licensing of persons dedicated to providing currency exchange and/or purchase services or remittance payment services, among other aspects. For this reason, they are informed that persons who habitually offer these services must proceed with the process of obtaining a license for operation and/or registration."

The document adds that "... For this purpose, applications should be addressed to the Financial Services Management of the Financial Operations Division of the Central Bank of Nicaragua, Nejapa overpass 100 meters east, Pista Juan Pablo II. If you require more information, please send your questions to the following e-mail address: oaip@bcn.gob.ni."

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