Exchange Control Circular No. 13/2020

Circular Reference: Exchange Control Circular No. 13/2020

Circular Date: 14 October 2020

Circular Status: Pending

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. 565 published in Government Gazette No. 43804 of 2020-10-14 in terms of which Bank Zero Mutual Bank (BZMB) was appointed as a restricted Authorised Dealer in foreign exchange.

The appointment permits BZMB to issue 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 Bank Zero Mutual Bank 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.

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

Bank Zero Mutual Bank
View the Circular

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