The Central Bank of Colombia published an updated regulatory circular on procedures for foreign exchange transactions, adding a new obligation for foreign exchange market intermediaries (IMC) to provide certain documentation to customers upon request. Under the new requirement, IMC must supply residents or non-residents carrying out foreign exchange operations with the foreign exchange declarations and external credit reports that the intermediary transmitted to Banco de la República and that the Bank has confirmed were integrated into the Foreign Exchange Information System. The circular is addressed to Banco de la República’s head office and branches, foreign exchange market intermediaries, and natural and legal persons conducting foreign exchange and international investment operations.
Central Bank of Colombia 2025-02-27
Central Bank of Colombia requires foreign exchange market intermediaries to provide exchange declarations and external credit reports on request
The Central Bank of Colombia issued a circular requiring foreign exchange intermediaries to provide specific documentation to customers upon request, including foreign exchange declarations and external credit reports confirmed by Banco de la República. The circular targets Banco de la República’s offices, intermediaries, and individuals involved in foreign exchange and international investment operations.