Requirement to purchase Bullion from lawful entities

Issuing Agency:	Reserve Bank of Malawi
Incumbent Office Name:	Reserve Bank of Malawi
Address:	Reserve Bank of Malawi Po Box 30063 City Centre Lilongwe 3 Malawi
Fax:	265 (0) 1 772 752 / 1 774 284
Email:	reserve-bank@rbm.mw
Website:	http:www.rbm.mw
Phone:	265 (0) 1 770 600 / 1 771 700

Procedure step	Description	Required Documents
1	There are two types of bullion, cash bullion and gold bullion
2	The importation of cash bullion mainly depends on whether the account is current, capital (when one is borrowing or investing in an offshore account) or financial. For Current accounts, RBM is not concerned whilst for Financial Account, the duty has been deligated to commercial banks(RBM not directly involved); RBM is directly involved on the Capital type.
3	Usually individuals have to apply through Authorized Dealer Banks i.e Any application has to come through bankers of the applicant.
4	The procedure for such importation has been dedicated to commercial banks.

Forms

#	Title	Description	Issued By	File

Measures

#	Name	Description	Measure Type	Agency	Comments	Legal Document	Validity To	Measure Class
1	Requirement to Purchase Bullion from Lawful Entities and upon ministers' approval if the other person is resident outside Malawi.	A person may only import Bullion from lawful entities and upon the approval of the Minister if the bullion is bought from a person resident outside Malawi.	Prohibition	Reserve Bank of Malawi	It is a crime to possess bullion unlawfully in Malawi, as such the offense of unlawfully possessing bullion are also in this Rule.	Exchange Control Act (45:01)	9999-12-31	Good

Step-by-Step Guide

#	Process name	Process short name	Activity

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