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Licensing of cambios

 

Who can apply?

The general public can apply

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What to do?

Submit a written application addressed to the Governor of the Bank of Guyana, which is forwarded to the International Department for processing.

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How often should the license be renewed?

Each calendar year after inspection of the cambio and submission of renewal application.

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What about reporting requirements?

The licensed cambio is required to submit information to the Bank of Guyana on forms IV, 5, 6, 7 and 8.

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How are the cambios supervised?

Section 16 of Dealers in Foreign Currency Act No 19 of 1989, authorizes the Bank of Guyana to conduct an examination of the cambios. Officers from the International Department would inspect the records maintained by cambios to ensure compliance with regulations.

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What is the objective of the examination?

To check for compliance according to the Act.

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