Book traversal links for 2.2 License Categories
2.2 License Categories
N 35/2018 STA- 2.2.1There are three categories of license based on the scope of Exchange Business that the Licensed Person is permitted to carry out in accordance with Paragraph 1.2 of Chapter 1:
- a)Category A License:
The Licensed Person, in possession of a ‘Category A’ license, is permitted to carry out only foreign currency exchange business in accordance with Paragraph 1.2.1 of Chapter 1;
- b)Category B License:
The Licensed Person, in possession of a ‘Category B’ license, is permitted to carry out the following two activities only:
- •Foreign currency exchange (Refer to Paragraph 1.2.1 of Chapter 1); and
- •Remittance operations (Refer to Paragraph 1.2.2 of Chapter 1).
- c)Category C License:
The Licensed Person, in possession of a ‘Category C’ License, is permitted to carry out the following three activities:
- •Foreign currency exchange (Refer to Paragraph 1.2.1 of Chapter 1);
- •Remittance operations (Refer to Paragraph 1.2.2 of Chapter 1); and
- •Payment of Wages using WPS (Refer to Paragraph 1.2.3 of Chapter 1).
- a)Category A License:
- 2.2.2The Licensed Person, in possession of either a “Category B” or “Category C” license, may choose to sell/offer special products or services in accordance with Paragraph 1.2.4 of Chapter 1.