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 10:04 2019 Monday ,19 August
Live a tense and noisy atmosphere
GMT 22:42 2018 Thursday ,13 December
'World of Food Abu Dhabi' kicks off at Umm Al Emarat Park
GMT 08:59 2017 Friday ,10 March
Dubai ‘bio-dome’ will be home to 3,000 plants and animals
GMT 10:12 2018 Sunday ,28 October
Eritrea warns Germany not to 'meddle' in region's affairs
GMT 10:55 2017 Saturday ,22 July
368,000 suspected cholera cases in Yemen
GMT 11:17 2018 Thursday ,11 January
Human muscle tissue grown
GMT 12:59 2017 Tuesday ,19 December
German watchdog finds Facebook data harvesting 'abusive'
GMT 12:47 2018 Wednesday ,21 November
TRA Bahrain wins major regional award
GMT 09:26 2016 Friday ,13 May
Zlatan Ibrahimovic announces departure from PSG
GMT 08:01 2018 Tuesday ,18 September
US introduces 10% duties on imports from China for $200 bln from September 24
GMT 15:46 2018 Monday ,10 September
Oppo launches its premium smartphone Find X in UAE
GMT 20:48 2017 Monday ,13 March
Egypt's mufti: Dar al Ifta ready to support Muslims in Singapore
GMT 12:03 2017 Monday ,02 January
66 Indians jailed in Pakistan
GMT 11:43 2017 Saturday ,25 February
Why is Aung San Suu Kyi silent on abuses against the Rohingya in Myanmar?
GMT 16:13 2017 Monday ,24 April
Saudi foundation pledges $50m to eradicate measles
GMT 09:11 2017 Saturday ,29 April
White Nile, North Upper Nile State of South Sudan to sign memorandum
GMT 08:30 2017 Monday ,27 February
Steak & caramelised onion sandwich
GMT 07:16 2017 Wednesday ,19 April
Bahrain Mixed Martial Arts Federation launches logo
GMT 11:15 2017 Tuesday ,14 March
Kerber holds off Parmentier to advance at WTA Indian Wells
GMT 12:34 2017 Wednesday ,13 September
Ahlam Haggi gives priority to her career
GMT 07:24 2018 Tuesday ,23 January
Turkey in new assault on Kurdish militia on Syria
GMT 08:44 2017 Sunday ,24 December
Firm Keppel Offshore to pay $422 mn
GMT 08:58 2017 Thursday ,23 November
A visionary electric hypercar
GMT 09:10 2017 Tuesday ,07 November
Lebanon politicians await outcome of Saudi king’s
GMT 12:43 2016 Monday ,19 September
'Sully' stays at top of North American box office
GMT 08:09 2017 Thursday ,19 October
Weinstein being 'condemned by vigilantes': Oliver Stone
GMT 09:19 2017 Tuesday ,29 August
Bahrain pilgrims in good health
GMT 04:19 2017 Tuesday ,24 January
A water tunnel to the underworld
GMT 16:15 2018 Monday ,10 December
“On the Roof of Damascus” film wins Special Jury Award at International Film Festival, Tunisia
GMT 14:25 2014 Wednesday ,29 January
Egyptian general\'s murder highlights growing insecurity
GMT 03:44 2015 Thursday ,17 September
Number of Egyptian deaths in Mecca crane accident rises to 4
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor