Regulatory Alerts2024-10-01
Circular No. 002/RC/2023 on Time Limits for Pre-Importation Goods Consumption and Stakeholder Responsibilities Under Foreign Exchange Regulations
The Banque de la République du Burundi issued Circular No. 002/RC/2023 to mandate a three-month customs verification window and an automatic six-month import-export blocking mechanism in the ASYCUDA-World system for pre-paid goods. The regulation requires commercial banks to immediately register payments and cross-reference declarations, while obligating importers to reimburse unclaimed foreign currency within six months if goods remain uncleared without valid cause. These provisions enforce strict stakeholder accountability and streamline foreign exchange compliance for pre-importation transactions.
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