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Iceland: Amendments to the Foreign Exchange Act

Description

Furthermore, the amendment scraps the repatriation requirement for foreign currency related to "loans taken abroad by individuals for the purchase of real estate or motor vehicles/transport equipment ...

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Intervention Details

Intervention Type

Repatriation & surrender requirements

MAST Chapter

Capital control measures

Implementation date

21 Oct 2016

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Products

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