New law lifts restrictions on international transactions, banks yet to respond

According to a Rzeczpospolita poll, 25% of Poles are interested in investing their money abroad, and an this opportunity will be granted to them by the new Foreign Currency Law which comes into effect on October 1. The law abolishes the final major obstacles in foreign currency transactions, as opening bank deposits abroad, transferring money by a Polish company to its foreign office, or the purchase of short-term debt instruments on foreign markets will no longer require a special permit from the National Bank of Poland. Foreign banks operating in Poland have yet to come up with offers for customers wanting to open accounts abroad. Analysts believe that the outflow of funds will not be significant. (Rzeczpospolita, p. B1) T.J.