The ability of Bahamians to make outward direct investments that were not assessed an investment currency premium, only started to be embraced as a policy in 2006, and is now accommodated up to a limit of $ million, per investment, every three years.
Collectively, the effort of these work streams and the Financial Markets Department of the SARB has culminated in an important body of work that will underpin South Africa’s transition to alternative reference rates. We see this transition process as one which entails multiple and carefully sequenced steps, beginning with the stabilisation of the Jibar to secure the transition period.