CBSL to initiate actions against persons who hold over USD 10

Central Bank to initiate actions against persons who hold over USD 10,000 in possession

With the intention of attracting foreign currency in the hands of the public into the formal banking system, the Minister of Finance has issued an Order under Section 8 of the Foreign Exchange Act No. 12 of 2017 as follows: (1) Reducing the amount of foreign currency retained in possession by a person in, or […]