New Forex Rules

Written By NOCWeb .

The First Amendment to the Foreign Currency Act, adopted by Parliament on August 26, 2026, is now published on their website and an overview is posted on the official Linked in page of NCO.

Publication Link: https://majlis.gov.mv/storage/action_files/1935/5yGM3zyg5WWzUvqZNcQ5vjPfeEmhULe0JOREeYUQ.pdf

Linked in:
https://www.linkedin.com/feed/update/urn:li:activity:7499169340328398848

The amendment changes many rules in the Foreign Currency Act that took effect on January 1, 2025.

We have summarized the new rules as they apply to mandatory conversions / payment of salaries and benefits; shareholder dividends; and payment for goods and services in a foreign currency.

Please have a look at this link for an easy glance.

https://go.fliplink.me/view/56C87153-A029-4FAE-AC51-1A710EE4121C

NOCWeb .
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THE FIRST FOREX AMENDMENT
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