Namibia: Forex Trading, Not for Everyone - BoN

A person seeking to trade in foreign currency in Namibia should have minimum starting capital of N$1,6 million, approved by the Ministry of Finance, and be willing and able to pay N$5 200 to get such approval.

The above is an extract from the rules referred to by the Bank of Namibia (BoN) in a recently released statement explaining foreign exchange (forex) trading, and the requirements for persons carrying out such activities to register with the central bank.

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