Regulatory Alerts2023-07-12
Circular No. 3/2016
The Governor issued Circular No. 3/2016 to implement Decision No. (11) of 2016, which regulates foreign currency transactions and defines the authorities responsible for executing external remittances for various purposes. The circular establishes clear procedural guidelines and delegated powers to standardize cross-border payment processing across financial institutions. Compliance with these updated regulatory frameworks is mandatory for all licensed entities handling foreign exchange and international fund transfers.
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