Regulatory Alerts2021-01-21
Added
Clarification on Endorsement of Foreign Exchange on Passports
Authorized Dealers must endorse passports when releasing foreign exchange in cash or non-cash forms, such as international cards, from eligible travel entitlements. This endorsement requirement applies to all persons except those holding foreign passports, who may release foreign exchange in non-cash forms from private foreign currency accounts without endorsement. Official visits remain exempt from the endorsement requirement, and the threshold limit for USD notes continues to apply.
Topics
fx
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