Discover the Exclusive List of Vetted Forex Dealers Released by the Central Bank!

In the midst of concerning reports about the unfair distribution of foreign exchange and a rise in black market activities in Trinidad and Tobago, the Central Bank (CBTT) has taken a necessary step by releasing a list of authorized foreign exchange dealers. The CBTT emphasizes that all transactions involving foreign currency, such as buying, selling, borrowing, or lending, must be carried out through these authorized dealers in accordance with the Exchange Control Act.

The CBTT has identified the following institutions as licensed authorized foreign exchange dealers in Trinidad and Tobago as of September 30, 2024:
– ANSA Bank Limited
– Citibank (Trinidad & Tobago) Limited
– First Citizens Bank Limited
– CIBC Caribbean Bank (Trinidad & Tobago) Limited
– JMMB Bank (T&T) Limited
– RBC Royal Bank (Trinidad & Tobago) Limited
– Republic Bank Limited
– Scotiabank Trinidad & Tobago Limited
– ANSA Merchant Bank Limited
– Development Finance Limited
– Massy Finance GFC Limited
– NCB Merchant Bank (Trinidad and Tobago) Limited
– Export-Import Bank of Trinidad and Tobago (EXIMBANK)

Additionally, the CBTT has authorized the following Bureaux de Change operators to conduct foreign exchange activities:
– Global Exchange Trinidad and Tobago Limited
– GraceKennedy (Trinidad & Tobago) Limited
– Massy Remittance Services (Trinidad) Limited
– Millennium Finance and Leasing Company Limited

The CBTT has specified that EXIMBANK holds a limited-scope authorized dealer license for specific foreign exchange transactions. It is also mandatory for Bureaux de Change operators to prominently display their license, which outlines the authorized activities they can undertake.

It is crucial for individuals and businesses in Trinidad and Tobago to adhere to these regulations to ensure transparency and accountability in foreign exchange transactions. By utilizing the services of authorized dealers and Bureaux de Change operators, the public can contribute to maintaining the stability and integrity of the foreign exchange market in the country.