Regulatory Alerts2013-07-04
Added · Updated
DOS Circular Letter No. 13: Suspension of DOS Circular Letter No. 06/2013 Regarding Opening of All AD Branches of Scheduled Banks on Saturday
The Department of Off-site Supervision suspends DOS Circular Letter No. 06/2013, which previously mandated that all authorized dealer branches of scheduled banks remain open on Saturdays. The directive reinstates the instructions of DOS Circular Letter No. 18 dated December 7, 2006, requiring foreign currency transaction branches of banks located at air, sea, and land ports to remain open on Fridays and Saturdays. Other authorized dealer branches engaged in import-export trade may remain open on Saturdays at the banks' discretion, with office and transaction hours determined by the respective banks.
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