Regulatory Alerts2023-10-23
Added · Updated
Circular dated October 23, 2023 regarding amending the period for following up on the receipt of export proceeds of gold jewelry
The circular amends previous directives by adding gold jewelry exports to the list of exceptions, allowing a 30-working-day period to follow up on the receipt of export proceeds. Banks are required to adhere to necessary procedures to verify the validity of these transactions and accept proceeds in cash or gold. This directive applies to all banks and supersedes the standard 7-day tracking period for these specific operations.
Topics
fx
payments
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