Emerging Markets Rates and Currencies Handbook

146 Citi | Emerging Markets Currencies Handbook 2021 Gabon Requirements to open a foreign currency account Subject to Central Bank Approval for residents and FCY account cannot be credited with local currency. Approval is granted for 2 years and need to be renewed 45 days before expiration. Allowed for non-residents and the balance of FCY account cannot be negative. Deal Management Rollover: N/A. Unwinding: N/A. Early Maturity: N/A. Documentation Requirements Product specific Up to FX Spot: Exchange control regulated, convertibility subject to appropriate underlying documentation for equivalent XAF amount >= to 1,000,000 per month. For equivalent amount below this limit no documentation is required to attach with the transfer request. Forwards and Derivatives market is limited and transactions are subject to exchange control regulation (e.g., transaction should always be supported by a commercial or financial transaction). Trade flows Remittance of XAF out of the CEMAC is subject to required set of documentation in compliance with the local exchange control regulation. Capital flows/FDI Client need to open Capital injection account. An attestation is delivered in order to complete administrative process. Account can be opened in FCY or LCY. Citibank Gabon N.A. 810 Boulevard Quaben & Rue Kringe B.P 3940 Libreville (Gabon) FX Sales Contact: +241 0144 6649 Note: Citigroup Inc. and any of its affiliates do not provide accounting, tax, or legal advice. Please seek advice from a relevant licensed advisor. Source: Relevant legislation, publicly available sources.