Three companies ceased foreign exchange operation
- Details
- Category: Press Releases
- Created: 26 February 2015
As required under Regulation 3 of the Foreign Exchange Control Regulation 2000, the authority to conduct foreign exchange business in Tonga is restricted to persons who have been authorised by the National Reserve Bank of Tonga. Members of the public are hereby advised that the institutions listed below are authorised to operate a foreign exchange business in the Kingdom.
Authorised Dealers
- Australia & New Zealand Banking Group Ltd
- MBf Tonga Ltd
- Westpac Bank of Tonga
- Pacific International Commercial Bank
Authorised Restricted Licensed / Registered Dealers
- MoneyGram operated by Westpac Bank of Tonga and MBf Tonga Ltd
- Western Union operated by FEXCO Tonga Ltd
- IMEX and RIA Money Transfer operated by Rowena Financial Services
- Melie-mei-Langi Co. Ltd
- T&T Money Transfer Ltd
- Jones Travel Ltd
- Nikua Money Transfer Ltd
- Digicel Mobile Money operated by Digicel Tonga Ltd
- Mateaki Money Transfer
- Tonga Ma’ae Tonga Group Ltd
- Frank Money Transfer
- Tonga Post Ltd
- A. Mart Enterprises Ltd
The National Reserve Bank of Tonga also wishes to inform the general public that the following authorized restricted registered dealers have ceased operation and are no longer authorized to conduct foreign exchange business:
- Fetu’u-To Financial Services Co. Ltd
- VEQ Trading Ltd
- ‘Epokifo’ou Money Transfer
Members of the public are encouraged to report to the National Reserve Bank of Tonga any person or business that is advertising or providing foreign exchange services but are not authorized dealers or authorized restricted dealers.
A person who commits an offence against these regulations shall be liable on conviction
- In the case of an individual, to a fine not exceeding TOP$20,000 or imprisonment for a term not exceeding 3 years;
- In the case of a body corporate, to a fine not exceeding TOP$200,000.
For further details, please contact:
National Reserve Bank of Tonga
Telephone: (676) 24057 | Fax: (676) 24201
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.reservebank.to
