Regulatory Alerts2022-05-18 | RESOLUCIONES DE DIRECTORIO N° 039/2022Added · Updated
Board Resolution No. 039/2022 Approving the Regulation of Financial Operations with Foreign Entities
The Central Bank of Bolivia (BCB) Board of Directors approved the Regulation of Financial Operations with Foreign Entities, applying to majority state-owned commercial societies, their subsidiaries, and affiliates. The regulation mandates that these entities repatriate foreign financial investments to Bolivia within 60 days of the regulation's publication and conduct all foreign currency transfers through the BCB. It establishes monthly reporting requirements for existing foreign holdings and imposes suspension penalties on non-compliant societies and the financial entities facilitating their operations.
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