To clamp down on money laundering
China tightens rules on oversea cash withdrawals
The annual limit will be set at 100,000 yuan ($15,355) per person.
Beijing - Egypt Today
China has tightened rules on how much cash cardholders can withdraw overseas in a bid to clamp down on money laundering, terrorist financing and tax evasion, authorities said Saturday.
The annual limit will be set at 100,000 yuan ($15,355) per person from Monday -- no matter how many cards a person has.
Currently, there is an annual ATM cap of 100,000 yuan for each separate card, but there is nothing to stop users withdrawing many times this amount using multiple cards.
The new rules will "prevent law breakers from withdrawing a large amount of cash with different cards from different banks," the State Administration of Foreign Exchange said according to state news agency Xinhua.
Anyone exceeding the limit will be barred from withdrawing cash overseas for the remainder of the year and the following year.
The move comes as China has struggled with capital flight and tightened capital controls this year to stem the outflow of money.
Source:AFP
- Monday ,19 November GMT 16:48 2018 Russia, Turkey will reach $100 bln worth of trade turnover, says Putin
- Sunday ,28 October GMT 13:33 2018 Investcorp hosts Strategic Partners Conference over 130 of its key partners in Paris
- Tuesday ,11 September GMT 13:34 2018 Trade turnover between Russia and China to grow to $100 bln in 2018 — Putin
GMT 16:48 2018 Monday ,19 November
Russia, Turkey will reach $100 bln worth of trade turnover, says PutinGMT 13:33 2018 Sunday ,28 October
Investcorp hosts Strategic Partners Conference over 130 of its key partners in ParisGMT 13:34 2018 Tuesday ,11 September
Trade turnover between Russia and China to grow to $100 bln in 2018 — PutinGMT 09:36 2018 Wednesday ,24 January
Trump angers China, South Korea with new trade tariffsGMT 06:49 2017 Wednesday ,13 December
Riyadh, Beijing Launch Digital Silk Road InitiativeRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 11:24 2018 Friday ,14 December
Turkey will enter Syria’s Manbij if US doesn’t remove YPG fightersGMT 15:49 2011 Friday ,10 June
Oil firm wins injunction against Greenpeace
GMT 20:51 2017 Thursday ,04 May
Kenyan army launches defense policy to curb threats
GMT 10:27 2015 Monday ,06 July
Mini to launch ‘Clubman’ in 2016GMT 17:21 2011 Wednesday ,23 February
Lampard Desperate To Win The Champions League
GMT 13:51 2017 Thursday ,20 July
Malaysia Cup Match Between PKNP And Negeri Sembilan
GMT 10:13 2018 Tuesday ,09 January
Barcelona to unveil 160m Coutinho
GMT 23:03 2017 Monday ,16 January
Bank of Korea: Money Production Cost Rise in 2016GMT 20:33 2011 Friday ,06 May
Asad\'s army arrests all men over 15 in DaraaGMT 11:55 2011 Tuesday ,29 November
Ultrabooks could save the PCGMT 13:02 2012 Saturday ,01 September
Zombies and Morons compete
GMT 07:31 2017 Tuesday ,20 June
Sisi keen on attaining unity
GMT 11:50 2015 Saturday ,26 September
The Library of Fragrance announces January launches
GMT 06:28 2014 Saturday ,18 October
Asian Junior Volleyball tourney kicks off in Bahrain
GMT 13:21 2016 Saturday ,07 May
Cameroon's Ekeng dies during Romanian league football game
GMT 07:47 2017 Sunday ,10 December
Egypt's Coptic Pope rejects Pence meeting over Jerusalem
GMT 13:31 2016 Saturday ,13 February
Greek farmers clash with police
GMT 17:03 2014 Thursday ,16 October
Saeed Mohammed al-Tayer concludes discussions with French companies
GMT 01:40 2017 Thursday ,26 January
Melbourne vigil for shopping mall dead, suspect charged
GMT 07:40 2012 Friday ,06 July
Deeds, not words, matter the most
GMT 21:53 2016 Saturday ,12 November
Airstrikes kill 9 civilians in rebel-held town in Syria's Idlib
GMT 18:19 2017 Thursday ,23 March
Trump Transition Team 'Incidentally Monitored' after Election
GMT 14:16 2016 Wednesday ,23 November
Gigi sorry for ‘racist’ Melania Trump impressionGMT 08:52 2011 Tuesday ,21 June
Alliance Oil, Spain\'s Repsol to set up joint oil ventureGMT 05:54 2011 Sunday ,03 July
Czech cider courts world\'s greatest beer loversGMT 22:52 2011 Tuesday ,26 April
Nigeria prepares for parliamentary elections
GMT 20:48 2017 Friday ,28 April
Hillary Clinton Congratulates Trump on Presidential Victory
GMT 20:35 2016 Tuesday ,04 October
Paris climate deal: EU backs landmark agreement
GMT 10:50 2016 Thursday ,01 September
India's Reliance announces launch
GMT 09:34 2016 Friday ,30 September
Rosetta spacecraft set for final comet crash landing
GMT 06:27 2017 Wednesday ,28 June
Rakeen Georgia ex-CEO faces trial in Georgia
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor