Regulatory Alerts2017-11-22
Added · Updated
Circular dated November 20, 2017 regarding the electronic response received from customs to banks on Form 4
The circular instructs banks to accept electronic responses from customs regarding Form 4 instead of paper responses. It mandates the deletion of the previous requirement for banks to obtain a stamped Form 4 from the Central Bank and to rely solely on the electronic reply received through the electronic system. Banks are required to take necessary steps to comply with this change effective September 5, 2017.