Exchange Control Circular No. 5/2020

Circular Reference: Exchange Control Circular No. 5/2020

Circular Date: 10 July 2020

Circular Status: Pending

Restricted Authorised Dealer in foreign exchange

The attention of Authorised Dealers and Authorised Dealers in foreign exchange with limited authority are drawn to Government Notice No. 380 published in Government Gazette No. 43512 of 2020-07-10 in terms of which Tyme Bank Limited (Tyme Bank) was appointed as a restricted Authorised Dealer in foreign exchange.

The appointment permits Tyme Bank to issue credit and/or debit cards to individual clients and local entities enabling such cards to be used in foreign jurisdictions for permissible foreign exchange transactions.

The name of Tyme Bank Limited will be added to sections A.2(A) and A.2(C) of the Currency and Exchanges Manual for Authorised Dealers and Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority respectively.

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

Head of Department: Financial Surveillance

Tyme Bank Limited
View the Circular

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