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Foreign exchange dealers licence revokedMonday, November 23, 2009
This is due to the company’s serious breaches under the Exchange Control Act and Financial Transactions Reporting Act, and non-compliance with its conditions of licence. Galaxy International Limited was issued with a restricted foreign exchange dealer licence in 2004, and was since supervised by the Reserve Bank of Fiji. The Governor of the Reserve Bank of Fiji, Sada Reddy warns all foreign exchange dealers that they must fully comply with their conditions of licence. Any breaches of the conditions of licence will be dealt with seriously by the Reserve Bank. This can lead to revocation of licence. To date the Reserve Bank has revoked two licences of foreign exchange dealers for these reasons. Fiji Broadcasting Corporation |
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