Regulatory Alerts2009-03-02 | TED-FEM-FPC-GEN-01-011-09Re: Further Reduction In Forex Net Open Position (NOP) Of Banks
This is a notification from the Central Bank, addressed to all Authorised Dealers. It corrects an earlier announcement regarding the reduction in Forex Net Open Position (NOP) of banks from 10% to 5% of shareholders' funds. The previously stated effective date was incorrectly stated as January 19, 2008; it has now been corrected to January 19, 2009. Authorised Dealers are requested to inform their customers about this update. This information is provided by Batari Musa, the Acting Director of the Trade & Exchange Department.
09 46237811 09 46237809 E-mail address: ted@cenbank.org OUR REF: TED/FEM/GEN/FPC/01/010/09 February 2, 2009 TO ALL AUTHORISED DEALERS RE:FURTHER REDUCTION IN FOREX NET OPEN POSITION (NOP) OF BANKS Further to the circular ref: TED/FEM/FPC/GEN/01/002/09 dated January 15, 2009, we hereby inform all Authorised Dealers that the effective date for the NOP reduction fro 10% to 5% of shareholders funds is January 19, 2009 and not January 19, 2008 as stated on the circular under reference.
Authorised Dealers are enjoined to bring this to the notice of their customers.
BATARI MUSA AG. DIRECTOR TRADE & EXCHANGE DEPARTMENT