Circulars to Money Transfer Houses and Banks: Weekly Report Model (1994) and Conditions for International Transfers (2011)

Circular BRH/CIR/94 #40 of September 7, 1994 sends the money transfer houses the model of the new weekly report required by circular 94 #37, with a weekly statement form. Circular 98 of May 20, 2011, to commercial banks, savings and housing banks and transfer houses, sets the conditions for international transfers into and out of Haiti. Institutions declare the number and total amount of transfers every Monday on paper, must process all international transfers through the BRH payment platform, and pay a fee per transaction. A misreported amount draws a penalty of 50% of the difference, and a late report a penalty per day of infraction that doubles after eight days. The circular takes effect on June 1, 2011.

Letter-circular 07 of May 31, 2011 confirms that the fee is collected at the source and is outside the turnover tax base. It applies circular 98 from June 15, 2011 to transfers with the United States, Canada, the Turks and Caicos Islands and the Bahamas, and requires all international transfers to be declared from July 1, 2011. Letter-circular 08 of June 9, 2011 lets institutions pay transfers received from abroad in gourdes at the market rate when the beneficiary accepts it, and in foreign currency when the beneficiary requires it.