Travelers and cross-border traders leaving Malawi will now face new limits on the amount of foreign and Malawi currency they can carry out of the country.
Under Government Notice Number 88 individuals cannot take or send out of Malawi more than US$1,000, or its equivalent in another foreign currency.
The notice says this maybe possible unless they provide evidence that the money was purchased from an authorized dealer or obtain permission from the Reserve Bank of Malawi (RBM).
The new rules also affect the movement of Malawi currency across the country’s borders.
According to Government Notice Number 88, cross-border traders cannot take Malawi currency exceeding the equivalent of US$5,000 out of Malawi without permission from the RBM.
For other travelers, the limit is much lower, with individuals prohibited from taking Malawi currency exceeding the equivalent of US$100 out of the country without permission from the central bank.
The notices have therefore introduced different limits depending on whether a person is carrying foreign currency or Malawi currency, and whether they are travelling or engaged in cross-border trading.
