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The Central Bank has has decided to soften the foreign exchange regulations by saying that the local Finance sector has become strong during the past few years.

Accordingly, foreigners will be able to sell their properties and take away the capital.

CB states that the objective behind this decision is to increase the economic competition by facilitating the economic activities of the private sector and by inproving the effectiveness of the international finance trade and businesses.

CB informs that the regulations will be loosened with effect from the 12th June.

Amongst these policy reforms are NRFC account transfers amongst banks, granting loans in Foreign currency and allowing non residents to sell their resident property and take back the capital.

And also there will be an increase of foreign currency to take in foreign tours and granting migration allowances to migrants above 18.

Central Bank informs that the authorized dealers have already been notified.

 
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