Malawi Forex bureaus closed down

Lilongwe, 06 Aug-(ANA)-Malawi's Central Bank has closed down all foreign exchange bureaus which are said to have been operating outside its rules.

The move by the Reserve Bank of Malawi (RBM) comes barely a few weeks after its governor Victor Mbewe resigned his post.

Central Bank Secretary Samuel Malitoni, said the forex bureaus were operating without proper licenses hence their closure.

He said the criterion looks at competence, past performance, integrity and capacity. (ANA)

FA/ANA/06 August 2009---