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Encyclopedia > Bureaux de change

The term Bureau de Change is a term used, mainly in Europe, to describe a bank or facility which changes one currency to another. The phrase is used in nearly all of Europe, with a few exceptions towards the east. World map showing location of Europe A satellite composite image of Europe Europe is geologically and geographically a peninsula, forming the westernmost part of Eurasia. ... The essential function of a bank is to provide services related to the storing of value and the extending of credit. ...


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RBZ :: Media Releases & Speeches (1557 words)
A bureau de change shall keep proper accounts and other records and, at the end of each financial year, prepare financial statements reflecting, in accordance with sound accounting practices, the bureauÂ’s operations and financial condition.
The accounts of a bureau de change shall be audited by an auditor who is registered as a public auditor in terms of the Public Accountants and Auditors Act [Chapter 27:12] and who is not an employee, manager or director of the bureau de change.
Every bureau de change shall furnish to the Registrar and the Reserve Bank copies of the audited annual financial statements within six months after the end of the financial year to which the statements relate.
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