Capital account restrictions: resident drawal limits, banned sectors for non residents, and DPRK transaction prohibitions enforced. Regulation 4 prohibits specified capital account transactions and sets conditions for drawal of foreign exchange by resident individuals-subject to an ... Summary
Capital account restrictions: resident drawal limits, banned sectors for non residents, and DPRK transaction prohibitions enforced.
Regulation 4 prohibits specified capital account transactions and sets conditions for drawal of foreign exchange by resident individuals-subject to an annual Reserve Bank ceiling and transaction specific limits for excess drawals-prohibits remittance of funds drawn under the individual ceiling to FATF non cooperative jurisdictions, requires declarations to the Reserve Bank for capital account dealings, and mandates investment payments be made through normal banking channels or by debit to investor accounts maintained with authorised persons.
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