Regulatory Alerts1996-08-06
Directive No. 10/DSB/1996 on the Sale of Foreign Currency to Travelers
The Banking Supervision Directorate issued Directive No. 10/DSB/1996 to align foreign currency sales mechanisms with recent government policy amendments. The directive mandates that commercial banks process current invisible operations via traveler checks and sets a USD 5,000.00 sales limit for travelers, with a USD 500.00 cash allowance per customer. It further establishes a reduced USD 2,500.00 limit for accompanied minors, requires transaction recording on boarding passes with stamps and signatures, and immediately revokes Directive No. 3/DSB/96 upon publication.
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