Regulatory Alerts2014-12-19
Exchange Control Direction No. 8/2014 - Dealing in Foreign Currency Other Than Notes and Coins
The Central Bank of Belize issued Exchange Control Direction No. 8/2014 to regulate dealings in foreign currency other than notes and coins by Authorised Dealers and Authorised Depositaries. The directive mandates that Authorised Dealers buy and sell specified currencies at official rates set by the Central Bank, subject to a commission, while permitting transactions with non-resident financial institutions under defined conditions. Additionally, Authorised Dealers are required to submit weekly and monthly reports detailing foreign currency sales, purchases, and related permits to the Central Bank within specified timeframes.
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