More detail about the proposed changes
During the 2019 Medium Term Budget Policy Statement, the Minister of Finance announced that, ‘In order to promote investment and reduce unnecessary burdensome approvals, the South African Reserve Bank propose a more modern, transparent and risk-based approvals framework for cross-border flows.’
We will continue to monitor the implementation of the new capital flow management (CFM) framework and regulations and will advise as and when any further material information is made available.
Click here to find out more about the proposed exchange control reforms.
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