Regulatory Alerts2025-04-01 | cba-blob-17655Decree concerning Foreign Exchange Transactions 24/L.1 related to current foreign payments and receipts abroad
The Centrale Bank van Aruba issued Decree 24/L.1 to revoke Notice 98/L.1 and expand the definition of current foreign transactions to include goods, services, and compensation for capital and labor. The decree exempts specific current foreign payments from requiring a foreign exchange license, provided that written acknowledgment is obtained from the CBA for dividend and profit transfer transactions. This regulation becomes effective on January 1, 2024, and reserves the CBA's authority to take necessary actions if Aruba's foreign exchange reserve position is adversely affected.
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