Regulatory Alerts2001-03-30
Added · Updated
Directive to Amend The Operation of Foreign Exchange Bureau Directive No. FXD/09/1998
The National Bank of Ethiopia amends the 1998 Foreign Exchange Bureau Directive to establish specific foreign exchange sales limits and procedures for holiday, business, medical, and educational travel. Cash payments for these categories are capped at USD 400, with balances payable via travelers' cheques or drafts, while tuition and distance education fees must be paid directly to institutions via bank transfer. The directive also sets USD 150 as the limit for reconverting foreign currency without evidence and mandates daily transaction reporting to the regulator by 10:00 a.m. on the following working day. These provisions replace the previous directive and enter into force on 30 March 2001.
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