Regulatory Alerts2023-09-15
Added · Updated
Establishment and Operation of Foreign Currency Account for Non-Resident Ethiopians and Non-Resident Ethiopian Origin (Amendment) Directive No. FXD/85/2023
The directive amends Article 7 of the previous directive by replacing sub-articles 7.3, 7.4, and 7.5 to establish new requirements for crediting foreign currency accounts. Deposits of foreign currency cash notes exceeding USD 10,000 require a signed and sealed declaration from the Ethiopian Custom Commission. For deposits less than USD 10,000, residents other than those in neighboring or Middle East countries must present an entry visa not exceeding 30 days, while residents in neighboring and Middle East countries must provide a customs declaration for amounts equal to or less than USD 10,000. This directive enters into force on September 08, 2023.
Topics
fx
aml
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