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Reducing administrative burden and speeding up granting of licenses
CBCS reforms foreign exchange regulation
Willemstad/Philipsburg — The Centrale Bank van Curaçao en Sint Maarten (CBCS) will introduce a revised foreign exchange regulation on October 1, 2024. The revised regulation will reduce the administrative burden of the licensing process and speed up the granting of foreign exchange licenses. ‘The CBCS has calculated that the reforms will reduce the number of foreign exchange licenses to be granted on an annual basis by about 50% without compromising an effective control of the foreign exchange reserves,’ stated executive director, Dr. José Jardim.