{"id":66762,"date":"2024-04-16T10:54:44","date_gmt":"2024-04-16T10:54:44","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions"},"modified":"2024-04-16T11:05:54","modified_gmt":"2024-04-16T11:05:54","slug":"central-bank-provides-relief-for-cross-border-transactions","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions","title":{"rendered":"Central bank provides relief for cross-border transactions"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span><b>The Bank of Namibia has given relief to banking institutions regarding regulatory reporting on cross-border Common Monetary Area (CMA) low-value transactions.<\/b><\/p>\n<p>According to the Exchange Control Circular No.2024\/01, banking institutions are exempt from regulatory reporting requirements for cross-border CMA low-value transactions below N$1 million for individual clients and N$5 million for corporate clients.<\/p>\n<p>\u201cThe Bank of Namibia has issued the directive to regulate user fees, transaction speed, and regulatory reporting for cross-border CMA Public low-value transactions,\u201d said Sandra Garises the principal communications team leader at the central bank.With the new regulation, all transactions between Namibia and countries in the Common Monetary Area will be treated as international transactions from 15 April.<\/p>\n<p>In the past, these transactions were treated as domestic business.<\/p>\n<p>The CMA consists of Namibia, South Africa, Botswana, Lesotho and Eswatini.Previously, payments between banks in Namibia and nearby countries were treated as if conducted within South Africa.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. The Bank of Namibia has given relief to banking institutions regarding regulatory reporting on cross-border Common Monetary Area (CMA) low-value transactions. According to the Exchange Control Circular No.2024\/01, banking institutions are exempt from regulatory reporting requirements for cross-border CMA low-value transactions below N$1 million for individual clients and N$5 million for corporate [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":66761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-66762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Central bank provides relief for cross-border transactions - Namibia<\/title>\n<meta name=\"description\" content=\"The Bank of Namibia has given relief to banking institutions regarding regulatory reporting on cross-border Common Mo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central bank provides relief for cross-border transactions\" \/>\n<meta property=\"og:description\" content=\"The Bank of Namibia has given relief to banking institutions regarding regulatory reporting on cross-border Common Mo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T10:54:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-16T11:05:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1713252928.640224.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Central bank provides relief for cross-border transactions\",\"datePublished\":\"2024-04-16T10:54:44+00:00\",\"dateModified\":\"2024-04-16T11:05:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\"},\"wordCount\":168,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1713252928.640224.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/central-bank-provides-relief-for-cross-border-transactions\",\"name\":\"Central bank provides relief for cross-border transactions - 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