Official Notice of the Venezuelan Central Bank
The Venezuelan Central Bank, in coordination with the Ministry of the Popular Power for Economy, Finance, and Public Banking, published an Official Notice in its web page. Said Official Notice informs the Operating Institutions and the general public that, according to point 1 of the Circular dated March 20, 2014, the technological solution of the Alternative Foreign Currency Exchange System (Sistema Cambiario Alternativo de Divisas - “SICAD II”) is available to make transactions in foreign currency as from early today, March 24, 2014.
In order to access said Notice, please click here: http://www.bcv.org.ve/c5/sicad2/sicad2avi240314.pdf
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”