TNRB revokes Melie-Mei-Langi Foreign Exchange license

The Tonga National Reserve Bank (TNRB) has revoked the license of Melie-Mei-Langi Co. Ltd and it was no longer authorized to conduct foreign exchange services.

The authority did not give further details of why the company’s license was cancelled. It said only authorised business or persons were allowed to conduct foreign exchange services in Tonga.

“Members of the public are encouraged to report to the National Reserve Bank of Tonga any person or business that is advertising or providing foreign exchange services but are not authorized dealers or authorized restricted dealers” a statement from NRB says.

In June local media reported that Tonga Development Bank has repossessed the Melie-Mei-Langi supermarket in Ma’ufanga.

It was reported the company was under the spotlight after the New Zealand’s act of Anti-Money Laundering and Countering Financing of Terrorism Act 2009  came into full force on 30 June 2013.

Melie Mei Langi has been one of the main operators of Money Exchange and Money Express services between New Zealand, Australia and Tonga.

It was owned by a Tongan family who were based in Australia. It has branches in New Zealand, Australia, US, Samoa and Tonga and it offered services such as money and goods transfer, fisheries, handicraft and pastoral care.

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