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 whereView entire presentation