The foreign exchange environment will be further relaxed in 2012, stated the Central Bank in its ‘Roadmap: Monetary and Financial Sector Policies for 2012 and Beyond’, announced yesterday (3 Jan).
Permission will be granted for local listed companies to be listed in foreign stock exchanges as well as permission will be granted for issuance of redeemable preferences shares to non residents with a specific minimum redemption basis, the bank said.
The Roadmap also states that broad base money-changing operations in the formal sector, including the issue of general money changing licenses to hotels and restaurants registered with the Tourist Board will be granted.
The Central Bank will grant permission to Licensed Specialized Banks and Registered Finance Companies to open and maintain NRFC and RFC accounts.
Read the Central Bank Roadmap at: