Bank of Tanzania grants licenses to hotels for bureau de change operations
The Bank of Tanzania (BoT) said it has approved licenses for more than 30 hotels to establish bureau de change, in efforts to streamline currency exchange services within the hospitality sector and ensure compliance with the national financial regulations.
The central bank introduced new Foreign Exchange (Bureau de Change) Regulations last year, which allowed the hotels with three stars and above to establish the money shops with no minimum capital required.
BoT senior inspector for financial sector supervision, Mr. Gwamaka Charles, said that the move will ease the currency exchange process for both international visitors who have had to seek such services outside their hotels.
