North Korea will ban the use of foreign currency from New Year's Day in another move to reassert the communist regime's control over the economy, South Korean officials and analysts said Thursday.
A government official, speaking on condition of anonymity, confirmed a report of the ban carried by China's Xinhua news agency earlier this week.
Xinhua, reporting from Pyongyang, quoted a decree by the North's Ministry of People's Security which prohibits all units and individuals from using foreign currency from January 1.
Foreigners will have to exchange money into North Korean won, the decree said, adding that any violation would be "severely punished".
The ruling came less than a month after the North issued new won banknotes as part of a 100-to-one currency revaluation. It restricted the amount of old notes which could be changed for new currency, sparking widespread anger.
ACM's Dubai office will now be managed by Mario A. Camara and Tarek Bazerbachi, who will be overseeing the firm's operations in the Middle East and Asia. Camara will be responsible for operations, management of institutional clients, legal, compliance, finance and marketing. Meanwhile, Bazerbachi will be in charge of sales. Prior to his appointment as Managing Director, Camara held the position of Chief Legal Officer and was responsible for successfully incorporating ACM's subsidiaries in the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC) and obtaining the corresponding licenses.
Nikita Kaploun and Paul Zalessky founded their trading firm, Absolute Capital Management, in 2008, but neither are trading neophytes with a combined 13 years of trading experience and additional experience as analysts at institutional trading firms.
Zalessky became interested in the investment industry while studying finance at the University of Waterloo in Waterloo, Ontario, where he earned a master of mathematics degree, specializing in statistics and finance, and a bachelorβs degree in mathematics. His mathematics background helped him to create quantitative investment strategies, and he got involved in Forex Trading βbecause it allows for numerous trading opportunities,β he says.
North Korea will ban the use of foreign currency from New Year's Day in another move to reassert the communist regime's control over the economy, South Korean officials and analysts said Thursday.
A government official, speaking on condition of anonymity, confirmed a report of the ban carried by China's Xinhua news agency earlier this week.
Xinhua, reporting from Pyongyang, quoted a decree by the North's Ministry of People's Security which prohibits all units and individuals from using foreign currency from January 1.
Foreigners will have to exchange money into North Korean won, the decree said, adding that any violation would be "severely punished".
The ruling came less than a month after the North issued new won banknotes as part of a 100-to-one currency revaluation. It restricted the amount of old notes which could be changed for new currency, sparking widespread anger.
ACM's Dubai office will now be managed by Mario A. Camara and Tarek Bazerbachi, who will be overseeing the firm's operations in the Middle East and Asia. Camara will be responsible for operations, management of institutional clients, legal, compliance, finance and marketing. Meanwhile, Bazerbachi will be in charge of sales. Prior to his appointment as Managing Director, Camara held the position of Chief Legal Officer and was responsible for successfully incorporating ACM's subsidiaries in the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC) and obtaining the corresponding licenses.
Nikita Kaploun and Paul Zalessky founded their trading firm, Absolute Capital Management, in 2008, but neither are trading neophytes with a combined 13 years of trading experience and additional experience as analysts at institutional trading firms.
Zalessky became interested in the investment industry while studying finance at the University of Waterloo in Waterloo, Ontario, where he earned a master of mathematics degree, specializing in statistics and finance, and a bachelorβs degree in mathematics. His mathematics background helped him to create quantitative investment strategies, and he got involved in Forex Trading βbecause it allows for numerous trading opportunities,β he says.
Interactive Brokers Settles Nasdaq Charges, Agrees to $475,000 Fine
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
πΈ Instagram: https://www.instagram.com/fmevents_official
π¦ Twitter: https://twitter.com/F_M_events
π₯ TikTok: https://www.tiktok.com/@fmevents_official
βΆοΈ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
πΈ Instagram: https://www.instagram.com/fmevents_official
π¦ Twitter: https://twitter.com/F_M_events
π₯ TikTok: https://www.tiktok.com/@fmevents_official
βΆοΈ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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π Subscribe to our YouTube channel for more!π
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
π Subscribe to our YouTube channel for more!π
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage.
π Subscribe to our YouTube channel for more!π
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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