FOREX SHOPS CLOSE AS NEW LICENSING RULES LOOM LARGE

A bureau de change in Dar es Salaam yesterday. The Bank of Tanzania (BoT) has outlined tough new licensing requirements for forex shops. BoT governor Benno Ndulu (left) said yesterday that the rules were here to stay and that operators of bureaux de change were expected 

In Summary

• At least ten foreign exchange bureaus have not opened for business in Dar es Salaam alone for about three weeks now, but insiders say the number could rise to at least 100 countrywide as the deadline for implementation of the licensing requirements approaches.

Dar es Salaam. A number bureaux de change have closed business in Dar es Salaam, three months before new licensing requirements come into effect, The Citizen has learned.

At least ten foreign exchange bureaus have not opened for business in Dar es Salaam alone for about three weeks now, but insiders say the number could rise to at least 100 countrywide as the deadline for implementation of the licensing requirements approaches.

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