Exchange Control Circular No. 16/2018

Circular Reference: Exchange Control Circular No. 16/2018

Circular Date: 31 October 2018

Circular Status: Withdrawn (see Exchange Control Circular No. 1/2019)

Authorised Dealer in foreign exchange with limited authority

The attention of Authorised Dealers and Authorised Dealers in foreign exchange with limited authority are drawn to Government Notice No. 1206 published in Government Gazette No. 42012 in terms of which WorldRemit South Africa (Pty) Limited was appointed as an Authorised Dealer in foreign exchange with limited authority to operate as an Independent Money Transfer Operator in South Africa.

The appointment permits WorldRemit South Africa (Pty) Limited to enter into transactions in respect of money remittance services, i.e., cross-border person-to-person payments of a relatively low value.

The name of WorldRemit South Africa (Pty) Limited will be added to sections A.2(A) and A.2(B) of the Currency and Exchanges Manual for Authorised Dealers and Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority respectively, as well as the guideline documents for business entities and individuals (guideline documents) as a Category Three Authorised Dealer in foreign exchange with limited authority to operate as an independent Money Transfer Operator in South Africa.

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The relevant Government Notice is attached hereto and the amended Manuals and guideline documents may be accessed on the SARB website: www.reservebank.co.za by following the links: Home > Regulation and supervision > Financial surveillance and exchange controls > Currency and exchanges documents.

Head of Department: Financial Surveillance

WorldRemit South Africa (Pty) Limited
View the Circular

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