The Bank of Tanzania (BoT) has granted licenses to several hotels, allowing them to operate bureau de change services within their premises. The apex bank said it has approved licenses for more than 30 hotels to establish Bureau de Change, to streamline currency exchange services within the hospitality sector.
By enabling hotels to offer currency exchange services, the central bank seeks to reduce the inconvenience faced by visitors who previously had to seek out separate bureau de change facilities.
The licensed hotels will be required to adhere to the BoT's regulations and guidelines for bureau de change operations, ensuring compliance with anti-money laundering and counter-terrorist financing measures.
The latest decision to license hotels for Bureau de Change operations is part of the apex bank’s efforts to improve the availability and efficiency of foreign exchange services in Tanzania.
