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CENTRAL BANK (BSP) CIRCULAR NO. 471

Rules and Regulations Governing the Registration and Operations of Foreign Exchange Dealers/Money Changers and Remittance Agents

CB Circular No. 471 | 2005-01-24

CIRCULAR NO. 471
Series of 2005

Pursuant to Monetary Board Resolution No. 75 dated 20 January 2005, the rules and regulations that shall govern the registration and operations of foreign exchange dealers/money changers and remittance agents are hereby issued as follows:

Section 1.  Registration.  Qualified persons or non-bank institutions wishing to act as foreign exchange dealers (FXDs)/money changers (MCs) and/or remittance agents (RAs) are required to register with the Bangko Sentral ng Pilipinas (BSP) before they can operate as such. 

For this purpose, the term MCs, interchangeably referred to as FXDs, shall refer to those...