The FEC Act 2018 aims to advance transparency in terms of managing foreign exchange.
The FEC Act authorises the NRBT to manage the country’s foreign exchange in and out of the country and does not intend to violate a person’s Constitutional right to their property or money in Tonga. In the event a person chooses to convert/transfer/dispose of their property or money in exchange for foreign currency, the person forfeits that right and is subject to the exchange control directive issued under the FEC Act.
In recognition of the need to develop an appropriate framework that would assure a reasonable amount of export proceeds of Tonga are returned to Tonga, the NRBT with major exporters, related government authorities and relevant stakeholders conducted extensive consultation in 2010. The FEC Act 2018 was vetted by the International Monetary Fund (IMF) to ensure compliance with global practice.
The legal framework also needed to be tailored to provide for the opportunity for future development. On this basis, the Board of Directors of NRBT approved to amend the legislation in 2011 which the Foreign Exchange Control Bill was submitted through the usual and mandatory legal process. The FEC Act 2018 applies only to foreign exchange transactions after 1 November 2018.
The NRBT is encouraged to see the improved public engagement and interest in the FEC Act and as a response; NRBT will develop and strengthen public awareness around the legislation and its duty to manage the country’s foreign exchange.
For more information on the FEC Act 2018, please refer to our Frequently Asked Questions page. If you have any further questions, please contact Ms. ‘Ana Soakai Takai on
Ko hono toe fakamahino atu ‘e he Pangikē Pule ‘a e fetongi pa’anga muli
‘Oku fakatokanga’i ‘e he Pangikē Puleˊ ‘a e lahi ‘a hono toutou ‘ohake ‘o e ngaahi fehu’i tatau pē fekau’aki mo e Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018, ‘o fakatupunga ai ha ngaahi ta’efiemālie ki he Lao ni makatu’unga mei he ‘ikai ke mahino’i lelei mo e ‘ikai ke faka’uhinga’i tonu ‘a e Lao ko ‘eniˊ. Ko ia ‘oku faka’amu ‘a e Pangikē Puleˊ ke toe fakamahino atu ki he kakai ‘o e fonua´, ‘oku ‘ikai ke ‘i ai ha fakamatala fo’ou na’e toe tānaki ki he Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018. Ko e kotoa ‘o e ngaahi fakamatala ne hā ‘i he Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018 na’e ‘osi ‘i loto pe ia he Lao motu’a´ mo hono ngaahi tu’utu’uni ki hono pule’i ‘o e fakafetongi pa’anga´. Na’e fakataumu’a ‘a hono fo’u ‘o e Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018, ke toe fakamahino ange ‘a hono founga pule’i ‘o e fetongi pa’anga muli´.
Ko e Lao ko ‘eniˊ ‘oku ne fakamafai’i ‘a e Pangikē Puleˊ ki hono tokanga’i e fakafetongi pa’anga muli´ ‘o tatau pe ki he pa’anga hū mai mo e pa’anga hū atu ‘a e fonua´ ki tu’apule’anga´. ‘Oku ‘ikai taumu’a ‘a e Lao ko eniˊ ke ne uesia pē teˊne maumau’i ‘a e totonu fakakonisitūtone ‘a e kakai ‘o e fonuaˊ ki he’enau ngaahi koloa´ (property) pē ko ‘enau pa’anga Tonga ‘oku ‘i ai ‘enau totonu kiai´. Kā ‘okapau te nau fiema’u ke liliu pe fakafetongi pe talafi pe fakatau ‘enau ngaahi koloa´ pē ko ‘enau pa’anga Tonga´ ke fakafetongi ki he pa’anga muli´ pea ke mea’i ‘e he kakai ‘o e fonuaˊ ko ‘enau fili ia ke tukuange ‘enau totonuˊ pea ‘e ngāue’aki leva e Tu’utu’uni Ngāue ki hono Pule’i ‘o e Fakafetongi Pa’anga´, ‘a ia ‘oku malumalu ia ‘i he Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muliˊ.
Ko e ‘uhiˊ ko e mahu’inga ke fa’u ha fokotu’utu’u ngāue ‘oku mahu’inga mālie ki he fonuaˊ fekau’aki mo hono fakafoki mai ki Tonga ni ha pa’anga fe’unga ‘oku ma’u mei he ngaahi koloa hu atu ki tu’apule’angaˊ, na’e fakahoko ai ‘e he Pangikē Puleˊ ‘a e ngaahi fepōtalanoa’aki ‘i he 2010 mo e ngaahi kautaha lalahi ‘oku nau uta koloa ki tu’apule’anga´ (exporters), ngaahi Potungāue ‘a e Pule’anga´ mo e ngaahi kautaha ‘oku nau felāve’i mo e Lao´ni.
Na’e toe fiema’u pē foki mo e founga ngāue ki hono fakahoko ‘aki ‘a e Lao ni ke fakafaingamālie ki hano toe fakalelei’i ‘i he kaha’u´. ‘I he’ene pehē, na’e tali ai ‘e he Poate ‘o e kau Talēkita ‘o e Pangikē Puleˊ ‘i he 2011 ke fai hano fakalelei’i (amend) ‘o e Lao´, ‘a ia na’e fakahū ai e Fakalelei ki he Lao ko eniˊ, pea na’e fakafou pē ‘i he founga fakalao angamaheni´. Ko e Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018 ‘oku fakataumu’a ia ki he ngaahi fakafetongi pa’anga na’e fakahoko hili e ‘aho 1 ‘o Nōvema 2018.
‘Oku hoko ‘a hono toutou ‘ohake ‘o e ngaahi fehu’i tatau pe ko eni fekau’aki mo e Lao ni ko e fakalotolahi ki he ngāue ‘oku lolotonga fakahoko ‘e he Pangikē Puleˊ fekau’aki mo e Lao ko eniˊ. Ko ia ai, ‘e fakahoko atu he Pangikē Pule´ ‘a e ngaahi polokalama ki he kakai ‘o e fonua´ fekau’aki mo e Lao´ni pea mo hono fatongia ke tokanga’i e ngaahi fakafetongi pa’anga muli ‘a e fonua´.
Ki ha ngaahi fakamatala fakaikiiki fekau’aki mo e Lao ki hono Pule’i ‘o e Fetongi Pa’anga Muli 2018, kātaki ‘o vakai ki he peesi ‘initaneti ‘a e Pangikē Puleˊ ki he Ngaahi fehu’i kuo toutou ‘ohake fekau’aki mo hono Pule’i ‘o e Fetongi Pa’anga´. Kapau ‘oku toe ‘i ai ha’o fehu’i, kātaki ‘o fetu’utaki kia ‘Ana Soakai Takai ki he ‘imeili ko e
