Directive No. FXD/07/1998 – Transfer of Foreign Exchange Functions to Commercial Banks

1 NATIONAL BANK OF ETHIOPIA Directive To Transfer NBE's Foreign Exchange Functions to Commercial Banks Directive No. FXD/07/1998 Issuing Authority These Directives are issued by the National Bank of Ethiopia (herein after the "NBE") pursuant to the authority vested in it by article 39 (1) and (2) of the Monetary and Banking Proclamation No. 83/1994. Short Title These Directives may be cited as "Directive to transfer NBE's Foreign Exchange Functions to Commercial Banks Directive No. FXD/07/1998". Definitions In these Directives, unless the context otherwise requires: "Authorized Commercial Bank" shall mean any Commercial Bank established in accordance with the law and authorized by the NBE to engage in foreign exchange transactions. " Importer" shall mean a legal entity or a physical person having a valid trade licenses for foreign trade, investment or industry from appropriate government body to engage in importation of goods and services from abroad. "Exporter: shall mean a legal entity or a physical person having a valid foreign trade license from appropriate government body to engage in export of goods and services abroad. "Franco-valuta" shall mean a license to import goods on which foreign exchange is not payable from the banking system. Rights of Authorized Commercial Banks Commercial Banks which are licensed to operate in Ethiopia are authorized to allow imports and exports excluding coffee and provide associated services

2 against submission of the required documents by the importer and exporter. Commercial Banks shall approve imports for any values; but values of USD 1,000,000 and above are subject to open international competitive bidding backed by relevant documents. Imports Imports by Letter of Credit The required documents to be submitted by an importer under L/C are:- An application form duly completed, signed & sealed. Three copies of proforma invoices showing clearly full description of goods, including quantity, grade, quality, volume, measurement, weight, mode of shipment, terms of payment, unit an total price of the goods at a named place of delivery. Photocopy of valid trade licenses for foreign trade, investment or industry. Insurance certificate from licensed local insurance company. Clearance certificate from NBE that he/she has settled its outstanding commitment. Restrictions An importer cannot import the under listed goods unless specifically indicated in their trade licenses in accordance with "Federal Government Commercial registration and Licensing Council of Ministers Regulation No. 67/1997" Article 17(2): coffee; pharmaceuticals or veterinary medicines; medical appliances; forestry products; wild animals and birds; agricultural, industrial and construction machinery, mechanical appliances and motor vehicles;

3 minerals; chemicals; petroleum and petroleum products; and other goods for which a certificate of competence must be obtained from the pertinent government institution, in order to prevent damage to public health, safety and the national economy. Imports by Cash Against Document (CAD) at sight Importers who wish to import goods on cash against documents (CAD) at sight basis are required to submit:- A purchase order, proforma invoice and valid trade licenses for foreign trade, investment or industry, One copy of local insurance certificate, Application form duly completed, signed and sealed together with the following documents. Three copies of chamberized invoices Two copies of certificate of origin Full sets of shipping documents (i.e. Bill of lading, airway bill, truck manifest, railway bill, couriers etc. and carrier invoice) to indicate the actual freight charges. Clearance certificate from NBE that he/she has settled its commitment. Imports by Advance payment Importers who wish to import goods by advance payment are required to submit a letter of undertaking for the entry of the goods into the country in addition to the documents indicated under 5.1 above. The amount to be approved for advance payment shall not exceed USD 5,000. In case an importer wishes to make transfer exceeding USD 5,000, he/she should submit foreign bank guarantee confirmed by local banks. However, bank guarantee requirement is not applicable for non-transferable (NT) account holders.

4 Other Requirements In addition to the provisions stipulated under 5.1, 5.3 & 5.4 above, the following are also required:- Ministry of Health certificate if the import of goods are medicines and other related medical equipment. Ministry of Agriculture certificate for the import of agricultural chemical and veterinary medicines. Quality and Standard Authority Certificate for import of goods such as food, matches, nails, galvanized corrugated sheets, scales etc which require standardization. Road Transport Authority approval as per "Road Transport Regulation Proclamation No. 14/1992" Article 7(3). A copy of a loan or grant agreement concluded between Government Agencies & foreign financing organizations. However, a letter of NBE is required in the case of private sector. Franco-Valuta Imports A. Eligibility Pursuant to the "Importation of Machinery and Goods on Franco-Valuta basis Council of Ministers Regulations No, 8/1996", the following may be allowed to be imported on Franco-Valuta basis: Machinery and goods imported by government institutions with financial assistance of donation from foreign governments, international organizations and donor agencies for programs and projects that have obtained prior approval through agreements entered into with the government; Goods imported by international organization, donor agencies, diplomatic and consular missions; Machinery and goods imported by foreign investors having license from the appropriate government institution and Ethiopian investors, permanently

5 residing abroad, for their investment activities and for personal use; IV. Goods imported for personal and family use, pursuant to directives issued by the Federal Revenue Board, by returning Ethiopians having stayed abroad on business, for education and various purposes or as refugees; Awards obtained by individuals and organizations for outstanding achievements in sports, arts and other similar activities. Exporters who import on Franco-Valuta basis for the purpose of exporting having the written approval of NBE. Commercial Banks shall allow exporting firms importing inputs from collaborating foreign partners without paying foreign exchange having the written approval of NBE. Commercial Banks are allowed to open usance import L/Cs for exporters with confirmed L/Cs. Requirements Commercial Banks shall allow Franco-Valuta imports to the applicant subject to the presentation of the following documents. Franco-Valuta application duly completed and signed by an applicant in three copies. Shipping documents such as bill of lading, airway bill, truck manifest, railway bill and couriers, as the case may be. If the duty free imported items are to be sold locally the concerned parties have to submit sales agreement. 2% service charge shall be levied based on Customs Authority value estimation slip with the exception of article 5.6A-ai, aii and aiii. Importation of used goods Commercial Banks shall foreign exchange for importation of sued goods except clothing and other items included in the customs negative list upon submission of the following documents in addition to the requirements stipulated under 5.1, 5.3 or 5.4 as the case may be.

6 A copy of valid trade licenses for import, investment or industry, as the case may be. Duly signed proforma invoice from overseas suppliers showing full description of the goods including type, model, date of manufacture, FOB value and freight cost separately, terms of payment and validity date. In case of used vehicles ownership certificate (Libre) from the country of purchase. Chamberized documents showing full description of the goods including type, model, date of manufacture, and original purchase price from parties other than the seller. The FOB value of used vehicles, machineries, equipments etc to be imported shall not exceed the maximum value indicated under the annexed table (annex1) with respect of service year. Imports through suppliers' credit Commercial Bank shall, on the basis of approval of NBE, allow eligible applicants to import goods under suppliers' credit in accordance with the existing Directives for Suppliers' Credit. Imports through external loans Commercial Banks shall, on the basis of NBE's directive governing external loans, allow eligible applicants to import goods in accordance with the existing Directive for External Loans. Imports by diplomatic bodies, other international organizations and their officials Imports for their own consumption by diplomatic and other international organizations of equal status and their officials may be paid by the debit of their Non-Resident Transferable Birr Account or Non-resident Foreign Currency Account. Where they do not maintain Non-Resident Transferable Birr or Foreign Currency account they shall be treated in the same way as other importers. Commodity Classification

7 Commercial Banks shall give import permits on Harmonization system (HS) commodity classification bases for different catagories of goods. Import Transit Foreign Exchange to meet transit expenses incurred outside Ethiopia effected on C & F and C.I.F. shall be availed provided that the application for foreign exchange is accompanied by two copies of application forms duly completed, signed and sealed, transit invoice, final supplier's invoice, customs declaration, customs receipt, railway bill, truck manifest and airway bill. Where the requirement of presentation of documents to Commercial Banks to prove entry of goods into Ethiopia precedes request for transit expenses, the application for foreign exchange shall be accompanied only by transit invoice and a clearance certificate from NBE. Import Freight Commercial Banks shall allow foreign exchange for freight expense for import upon submission of the following documents. Two copies of application forms duly completed signed and sealed, Freight invoices, Suppliers' invoice, Bill of lading or airway bill Import other charges Commercial Bank shall avail foreign exchange for imports to cover other charges such as port dues, port handling fee, storage upon submission of the following documents. a letter of request duly completed, signed and sealed in two copies, valid agreement signed between an importer and a beneficiary,

8 invoice,in case of demurrage charges, the documents indicated under 5.14 (a) and (c) above and the "lay time calculation sheet" are required. Re-insurance premium Commercial Banks shall avail foreign exchange to authorized insurance companies for payment of re-insurance premium upon submission of the following documents. a letter of request together with an agreement signed between the insurance company and the re-insurer in two copies, insurance license approved by NBE, debit note or statement of account, as the case may be. Foreign currency against foreign currency Commercial Banks shall allow foreign residents/tourists to covert foreign cash notes of one currency to another currency of cash notes upon presentation of two copies of applications duly completed and signed together with passport, valid visa and air ticket. Ex-post Verification of Documents Commercial Banks shall ensure that all documents processed with regard to import transactions are kept in order so that NBE will undertake ex-post verification of the documents in compliance with the existing trade and exchange regulations. Moreover, the NBE undertakes the following activities:- Price verifications of imported goods on a sample basis to forestall under and/or over invoicing. Verifies tender documents of import of goods for public enterprise, government organization etc on a sample basis whenever necessary.

9 Validity Import Applications Import application shall be valid for 120 days from the date of issue. The Commercial Bank may, for good cause, grant a maximum of 30 days. Applications for import transit, import freight and other charges The applications for import transit, import freight, insurance premium and other charges shall be valid during the month of issue only. Amendments Commercial Banks may for good cause amend import applications allowed at their end. Cancellation of imports If an importer wishes to cancel the approved imports, he/she is required to submit the full set of documents which were originally approved by a Commercial Bank for onward submission to NBE. Exports Export Valuable Goods No person natural or juridical, may export, or enter into any commitment to export valuable goods without the prior approval of the authorized Bank and unless the exporter undertakes to surrender the resultant sales proceeds in foreign exchange to an authorized bank either before the actual export, at the time of export, or within a period of not later than three months or within such other period that the NBE may from time to time prescribe for any class of exports or for any particular export. Payment for Exports All payments for valuable goods shall be made in foreign exchange or by the debit of a "Non-Resident Transferable Birr or Foreign Currency Account" maintained with commercial banks by their correspondent banks abroad.

10 Exports by Commercial Banks Commercial Banks are authorized to allow exports under the following mode of payment. Letter of Credit Advance Payment Consignment Bills of Lading for Exports to be made out in the name of a local bank Notwithstanding any agreement to the contrary, bills of lading, airway bill or any other document evidencing shipment of goods from Ethiopia to any destination abroad shall be made out to the order of a bank duly licensed to operate in Ethiopia or the opening bank abroad. However, in the case of wild animals shipped by air, airway bills shall be made out in the name of the buyer provided payment is made in advance and/or against letter of credit providing payment at the counter of negotiating bank and authorizing reimbursement by telex. Exporters or forwarding agents shall indicate in their shipping instructions to shipping companies or ship agents the name of the bank and/or the buyer in the case of wild animals in whose name the bill of lading, airway bill or any other equivalent document shall issued in respect of the valuable goods to be shipped. Upon receipt of the bills of lading of the equivalent documents in respect of the shipment of goods entrusted to them for export, forwarding or shipping agents operating additionally as forwarding enterprises shall, under their responsibility, deliver them to the bank in Ethiopia to whose order the shipping documents were issued. Repatriation of export proceeds Commercial Banks bear the responsibility for ensuring that export proceed from all export approved are repatriated into Ethiopia. Exports under Letter of Credit

11 Commercial Banks shall allow exports for goods to be exported abroad other than coffee, against submission of the following documents. Valid foreign trade license for export Copy of authenticated L/C 5 copies of Customs Declaration duly completed, signed and sealed 6 copies of Banks declarations duly completed, signed and sealed 2 copies of invoices duly completed, signed and sealed. The invoices could be chamberized as the case may be. a copy of sales contract. Restrictions The under listed goods shall not be approved for export unless specifically enumerated in the exporter's trade license. Forestry products Wild animals and birds Minerals Other goods for which a certificate of competence must be obtained from the pertinent government institution in order to prevent damage to the public health, safety and the national economy. Exports under advance payments Exporters who wish to obtain export applications under advance payments are required to submit the following documents. All documents indicated under item 6.6 A-a, c to f are required. Exports on Consignment Basis

12 Exports who wish to obtain export applications on consignment basis are to submit the following documents:- All documents indicated under item 6.6 A-a, c to f are required. First class foreign bank guarantee authenticated by Commercial Banks. The consignment sales are only applicable to fruits and vegetables as well as cut flowers and others as may be approved by the NBE. Small Export Items Commercial Banks shall allow small export items to tourists, foreign residents or Ethiopian Nationals who wish to take souvenirs. The small export items shall be sent abroad for sample, gift, repair, replacement, exhibition and trade fair and personal effects and belongings etc. Commercial Banks shall allow small export items for the following. a limited quantity of souvenir items for value not exceeding USD 500.- which a tourist (Non-Resident) has purchased with local currency that was lawfully exchanged for foreign exchange or Non-Resident (NR) accounts with an authorized Commercial Bank. Household goods, personal effects and souvenirs of an emigrant authorized by authorized Commercial Banks to be taken out of Ethiopia. Souvenirs, products or manufactures of Ethiopia that do no exceed the aggregate value of Birr 1,000 which a resident of Ethiopia with a re-entry visa going abroad may wish to take with him as gifts for friends. In the case of coffee, the weight to be taken out shall not exceed two kilos per adult passenger. Samples of Ethiopian products or manufactures for promoting exports not exceeding 5 kilos and incase of semi-processed hides and skins not exceeding 1 dozen, leather and leather products and textile products 1 pc each respectively. Additional samples may be allowed against payment of foreign exchange.

13 e) Machinery or equivalent or spare parts thereof sent abroad for repair or replacement and to be subsequently re-imported subject to a guarantee deposit of 100% of the invoice value in a blocked bank account, in case of private sector or a letter of undertaking from the exporting department in the case of the public sector to be released upon presentation of evidence to authorized Commercial Banks proving the re-importation of the item. f) Machinery, technical equipment or any other item and spare parts thereof to be exported from Ethiopia having been originally imported temporarily on Franco-valuta basis for specific use. g) Items imported into Ethiopia on Franco-valuta basis for repair purposes, provided the repair cost has been paid in foreign exchange. Validity Export applications The export applications shall be valid for 30 days from the date of issue. Export transit, export freight and other charges The applications for export transit, export freight and other charges shall be valid during the month of issue only. Renewal of Export Applications Commercial Banks are authorized to renew export applications at the request of an exporter and may for good cause grant a maximum of 30 days. Change of basis of shipment

14 Approved export applications may be cancelled upon presentation of the full set of documents and a letter of consent of both parties. The cancelled export applications shall be forwarded to NBE. Cancellation of export applications Approved export applications may be cancelled upon presentation of the full set of documents and a letter of consent of both parties. The cancelled export applications shall be forwarded to NBE. Export Transit Commercial Banks shall allow foreign exchange for export transit to exporters upon submission of the following documents:- an application form duly completed, signed and sealed in two copies; transit invoice; bill of lading, if exported on C & F or CIF basis; insurance policy or cover note, if exported on CIF basis; original sales contract; a copy of Commercial Bank's credit advice. Export Freight Commercial Bank shall allow foreign exchange for export freight to exporters upon submission of the following documents:- an application form duly completed, signed and sealed in two copies bill of lading freight invoices original sales contract a copy of Commercial Bank credit advice. Export Other Charges

15 Commercial Banks shall allow foreign exchange for exporters to cover other charges such as quality claim, loss in weight, commission, super￾intendance or survey fee, demurrage charge upon submission of the following documents. an application form duly completed, signed and sealed in two copies sales contract Commercial Bank advice Invoice In addition to the above quality certificate incase of quality claim, weight certificate in case of loss in weight, bill of lading incase of demurrage charges. Settlement of Commitments Exporters are required to repatriate their export proceeds in foreign exchange within 90 days from the date of issue of export applications. Importers are required to submit evidence for the entry of goods into the country within 120 days from the date of issue of import permits. The NBE will provide a list of non-delinquent exporters/importers to all Commercial Banks. No Commercial Banks shall give an export/import permit to a prospective exporter/importer whose name appears on the delinquent list. Any exporter/importer whose names appear on the delinquent list shall first clear his/her outstanding commitments at the NBE. Once he has cleared his commitments a clearance certificate will be issued by the NBE. Ex-post Verification of Documents The NBE shall make ex-post verification for the following on a sample basis. Export documents for all non-agricultural commodity exports Export documents for agricultural commodity exports for which verifiable international prices are readily available.

16 Submission or Returns Commercial Banks Authorized Commercial Banks shall submit reports in a prescribed forms indicating foreign exchange transactions for import and export applications, import and export transit as well as freight expenses every Monday on weekly basis to the NBE as follows:- a copy of export application together with a copy of invoice. a copy of import application together with a copy of proforma invoice and insurance certificate in case of advance payment and L/C, a copy of final invoice, insurance certificate and shipping documents incase of Cash Against Documents, A copy of Franco-Valuta application together with a copy of invoice and shipping documents and 2% collection slip, as the case may be. Small export items applications together with bank advice, as the case may be. A copy of applications of import transit, import freight, import other charges together with a copy of invoice. A copy of applications of export transit, export freight, export other charges together with a copy of invoice. A copy of a letter of application together with a copy of agreement signed between the insurance company and the re-insurer and a debit note as the case may be. A copy of foreign exchange application to convert one currency for another together with a bank advice. A copy of commercial Bank advices emanating from foreign exchange transactions of imports, exports, transit expenses, freight expenses, other charges, and re-insurance premium. Ethiopian Customs Authority The Ethiopian Customs Authority shall forward one copy of all customs import declarations issued and a copy of the final suppliers' invoice to the NBE.

17 Inspection by NBE The NBE may undertake an inspection of any Commercial Bank at any time to verify compliance with these Directives. Inspectors of the NBE are authorized to request the personnel of Commercial Banks such documents, information or explanations or the records or transactions that they deem necessary. Penalties The NBE may impose penalty on authorized Commercial Banks for violations of the provisions of these Directives in accordance with proclamation No. 83/94. Effective Date These directives shall enter into force as of the 31st day of August, 1998. TEKLEWORL ATNAFU GOVERNOR NATIONAL BANK OF ETHIOPIA

18 ANNEX 1 THE PERCENTAGE VALUE OF FOREIGN EXCHANGE APPROVED FOR USED VEHICLES, MACHINERY'S AND EQUIPMENT BY LIFE TIME No. Description Service year starting from date of manufacture Foreign Exchange to be approved 1 Tractors for agriculture,Upto 6 months 90% of original FOB price transport of goods From 6 months upto 1 1/2 years 75% of original FOB price From 1 1/2 years upto 2 1/2 years 55% of original FOB price From 2 1/2 years upto 5 years 45% of original FOB price From 5 years upto 8 years 30% of original FOB price 8 years and above 15% of original FOB price 2 Vehicles, minibuses, fourUpto 6 months 90% of original FOB price wheel drive vehicles,From 6 months upto 1 1/2 years 75% of original FOB price stations wagons cars,From 1 1/2 years upto 2 1/2 years 55% of original FOB price buses, ambulances,From 2 1/2 years upto 5 years 45% of original FOB price racing cars, double cabinFrom 5 years upto 8 years 35% of original FOB price pick-up vehicles used From 8 years upto 10 years 25% of original FOB price airplanes, vessel trains &10 years and above 15% of original FOB price train-wagons 3 Dumpers, single cabinUpto 6 months 90% of original FOB price pick-up, vehicles, crance From 6 months upto 1 1/2 years 75% of original FOB price lorries, drilling derricks,From 1 1/2 years upto 2 1/2 years 55% of original FOB price fire fighting vehicles,From 2 1/2 years upto 5 years 45% of original FOB price concrete-mixer lorries,From 5 years upto 8 years 35% of original FOB price medium and highFrom 8 years upto 10 years 25% of original FOB price capacity vehicles for the10 years and above 15% of original FOB price transport of goods.

19 No. Description Service year starting from date of manufacture Foreign exchange to be approved 4 Motorcycles (includingUpto 6 month 90% of original FOB price mopeds) Bicycles, invalid From 6 months upto 1 1/2 years 75% of original FOB price carriages, baby carriages From 1 1/2 years upto 2 1/2 years 55% of original FOB price From 2 1/2 years upto 5 years 45% of original FOB price From 5 years upto 6 years 30% of original FOB price 6 years and above 15% of original FOB price 5 Trailers and semi-trailers Upto 6 months 90% of original FOB price From 6 months upto 1 1/2 years 75% of original FOB price From 1 1/2 years upto 2 1/2 years 55% of original FOR price From 2 1/2 years upto 5 years 45% of original FOB price From 5 years upto 8 years 30% of original FOB price 8 years and above 15% of original FOB price 6 Used machines,Upto 6 months 90% of original FOB price equipment, and materials From 6 months upto 1 1/2 years 75% of original FOB price for constructions,From 1 1/2 years upto 2 1/2 years 55% of original FOB price industry, agriculture,From 2 1/2 years upto 5 years 45% of original FOB price mining From 5 years upto 8 years 30% of original FOB price 8 years and above 15% of original FOB price 7 Used household 20% of original FOB price equipment machines (refrigerators, televisions, washing machines, etc.....)

• Used office equipmen t and machines
• Used electrical materials

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• Used household 10% of original FOB price goods such as radios, tape￾recorders, tables and chairs, sofas, bed and materials. 8 - Used machinery parts 10% of original FOB price (for constructions, mining, industrial, agricultural machineries). -Used spare parts for vehicles leaf-springs etc. except used tyres
• Used container

21 Annex 2 List of exportable goods Agricultural products Some of the agricultural products are: Oil seeds Pulses Chat Cotton Civet Spices Fruit and vegetable Gum Cereals Live animals Wilde animals Etc. Non-agricultural products Some of the non-agricultural products are: skins Hides Bees wax Sugar and Molasses Leather products Textile products Handicrafts Minerals Scrap Foodstuffs Meat and meat products Gas stone Etc.

22 (Name of Commercial Bank) IMPORT APPLICATION PROCESSED FOR THE WEEK ENDED --------------- ,1998 Reporting Date-------- Date Type of Amount in F/cy Birr Equivalent No. of applications TOTAL Authorized Signature: ................................... Date: .............................. N.B. The relevant import applications together with the relevant documents are attached herewith.

23 (Name of Commercial Bank) EXPORT APPLICATIONS PROCESSED FOR THE WEEK ENDED ................. ,1988 Reporting Date.................. Date Type of Amount in F/cy Birr Equivalent No. of Currency applications TOTAL Authorized Signature: .............................. Date: ......................... N.B The relevant export applications together with the relevant documents are attached herewith.

24 (Name of commercial Bank) APPLICATIONS PROCESSED FOP IMPORT TRANSIT IMPORT FREIGHT AND OTHER CHARGES FOR THE WEED ENDED ............... ,1988 Reporting Date........... Date Type of Amount in F/cy Birr Equivalent No. of currency applications Authorized Signature: ---------------------- Date: .......................... N.B. The relevant applications for import transit, import freight and other charges together with the relevant documents are attached herewith.

25 (Name of Commercial Bank) APPLICATIONS PROCESSED FOR EXPORT TRANSIT EXPORT FREIGHT, FOREIGN CURRENCY Vs FOREIGN CURRENCY AND OTHER CHARGES FOR THE WEEK ENDED ...................... ,1988 Reporting Date .................. Date Type of Amount in Birr Equivalent No. of currency F/cy applications TOTAL Authorized Signature Date: ..................... N.B. The relevant application for export transit, export freight, foreign currency vs foreign currency and other charges are attached herewith.

26 (Name of Commercial Bank) APPLICATIONS PROCESSED FOR FRANCO-VALUTA IMPORT FOR THE WEEK ENDED .................. , 1988 Reporting Date Type of Amount in F/cy Birr Equivalent No. of currency applications TOTAL Authorized Signature: ........................................ Date: ........................................ N.B. The relevant applications for Franco-Valuta import together with the relevant documents are attached herewith.

27 (Name of Commercial Bank) APPLICATIONS PROCESSED FOR SMALL EXPORT ITEMS FOR THE WEEK ENDED......................................................., 1998 Reporting Date .................. Date Description No. of applications Remarks T O T A L Authorized Signature: ........................................ Date: ........................................ N.B. The relevant applications for small export items together with the relevant documents are attached herewith.

28 (Name of Commercial Bank) FOREIGN EXCHANGE PAYMENTS FOR IMPORTS FOR THE WEEK ENDED .................. , 1998 Reporting Date............ Date Type of Amount in Birr Equivalent No. of currency F/cy applications TOTAL Authorized Signature: ................................ Date: .............................. N.B. The relevant bank advices for import foreign exchange transactions together with import applications are attached herewith.

29 (Name of Commercial Bank) FOREIGN EXCHANGE RECEIPTS FOR EXPORTS FOR THE WEEK ENDED .................. , 1998 Reporting Date................... Date Type of Amount in Birr Equivalent No. of Currency F/cy applications TOTAL Authorized Signature: ................................. Date: .............................. N.B. The relevant bank advices for export foreign exchange transactions are attached herewith.

30 (Name of Commercial Bank) FOREIGN EXCHANGE PAYMENTS FOR EXPORT TRANSIT, EXPORT FREIGHT, FOREIGN CURRENCY Vs FOREIGN CURRENCY AND OTHER CHARGES FOR THE WEEK ENDED ......................... , 1998 Reporting Date ....................... Date Type of Amount in Birr Equivalent No. of currency F/cy applications Authorized Signature: ..................................... Date: ..................................... N.B. The relevant bank advices for export transit, export freight, foreign currency Vs foreign currency and other charges are attached herewith.

31 (Name of Commercial Bank) FOREIGN EXCHANGE PAYMENTS FOR IMPORT TRANSIT IMPORT FREIGHT AND OTHER CHARGES FOR THE WEEK ENDED ................... , 1998 Reporting Date ................... Date Type of Amount in F/cy Birr Equivalent No. of currency applications Authorized Signature: ................................. Date: ....................................... N.B. The relevant bank advices for import transit, import freight and other

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