Cyprus agrees to tough capital controls | Bangkok Post: news

News > World

Cyprus agrees to tough capital controls

- +

NICOSIA : Cyprus's central bank will impose capital controls to prevent funds going abroad, limiting what travellers may take out, restricting credit card purchases and slapping a ban on cashing cheques, local media reported Wednesday night. 

Under a decree that would initially be valid for seven days, individuals will be prohibited from taking more than 3,000 euros (112,000 baht) in cash on each trip abroad and limited to 5,000 euros a month in credit or debit card purchases while out of the country.

At the same time, firms would have to provide supporting documentation for all imports of more than 500 euros.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

2 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments