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[size=24]KTFA Members "News and Views" Tuesday Afternoon 1-15-19
1/15/2019Go to Comments[/size]
KTFA:
Samson: The Central Bank cancels a 2% commission payment for the $20 category and less
15th January, 2019
The Central Bank announced on Tuesday that it has canceled a 2% commission for the $20 category and less
"For regulatory purposes, it is decided to cancel the work of paying 20% commission for the $20 or less category on the foreign deposits of the banks with the central bank," the bank said in a statement received by the Economist News
The bank added that "the decision will be implemented as of 20 of this January LINK
MilitiaMan: Well well.. Now why in the world would they cancel 2% commission on relatively small category notes of foreign currency? They were probably charging the fee as they wanted to avoid the small frivolous transactions and time consumed in doing so. Now think about it. They are dropping the fee. The CBI is doing this for a reason and I suspect it is for a very good reason. As in they are going to have similar small notes that have more value therefore, they will have to exchange similar notes on a daily basis.. So imo, this is huge.. Unless I missed something here.. lol ~imo~ MM
Samson: The Central Bank cancels a 2% commission payment for the $20 category and less
15th January, 2019
The Central Bank announced on Tuesday that it has canceled a 2% commission for the $20 category and less
"For regulatory purposes, it is decided to cancel the work of paying 20% commission for the $20 or less category on the foreign deposits of the banks with the central bank," the bank said in a statement received by the Economist News
The bank added that "the decision will be implemented as of 20 of this January LINK
MilitiaMan: Well well.. Now why in the world would they cancel 2% commission on relatively small category notes of foreign currency? They were probably charging the fee as they wanted to avoid the small frivolous transactions and time consumed in doing so. Now think about it. They are dropping the fee. The CBI is doing this for a reason and I suspect it is for a very good reason. As in they are going to have similar small notes that have more value therefore, they will have to exchange similar notes on a daily basis.. So imo, this is huge.. Unless I missed something here.. lol ~imo~ MM
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