Investor Presentaiton slide image

Investor Presentaiton

Disbursement of International Remittances Disbursements of international remittances shall continue to be in foreign currency to the beneficiary; The individual beneficiary has options to receive the funds in local currency equivalent at the prevailing interbank rate, deposit the foreign currency cash into an Individual Nostro FCA or keep the foreign currency; Beneficiaries of international remittances are allowed to utilise their foreign currency only for purposes of importing goods and services; and ➡ Use of foreign currency locally is, however, no longer permissible in line with Statutory Instrument 142 of 2019, hence the need for individual beneficiaries to sell their foreign currency to banks or Bureau de Change in instances where
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