Refinement of the US$50 Facility Accessed through Bureaux de Change Export Retention for Manufacturing, Horticulture and Cross-Border Transport

therefore encouraging the public to bank their cash and utilise these digital and electronic services, that include credit and debit cards, to minimise the risk of theft and robberies associated with carrying cash on person or possession of large sums of cash at premises.

Refinement of the US$50 Facility Accessed through Bureaux de Change

146. The Bank availed the US$50 Facility to assist members of the public to access foreign currency for small domestic purchases and payments at the official exchange rate through bureaux de change which are allowed to charge up to 10% over the cost of funds. The Bank, has however, noted, with concern the abuses of this Facility by some members of the public.

147. In this regard, the Bank is refining the US$50 Facility, with immediate effect, to limit it to the vulnerable members of the society, that is pensioners, senior citizens, people living with disability and those requiring forex for medical purposes.

Export Retention for Manufacturing, Horticulture and Cross-Border

Transport

148. On account of the high import requirements embedded in the manufacturing, horticulture and cross-border transport sub-sectors of the economy, with immediate effect, exporters in the manufacturing, horticulture and crossborder transport sub-sectors shall be eligible to retain 100% of the incremental portion of their export receipts.

149. The export base for these sub-sectors have also been refined to incorporate their high import requirements.