Regulatory Alerts2025-06-25
Added
Extending the purview of offshore banking operations
Offshore Banking Units (OBUs) are permitted to extend services to non-resident customers, including trade-related services such as advising, collection, and settlements, provided they verify service legitimacy and execute appropriate due diligence. OBUs are prohibited from undertaking exposure or financial commitments on behalf of these customers. Additionally, OBUs may arrange the repatriation of inward remittances through internationally recognized money transfer operators, online payment gateway service providers, digital wallets, or other licensed payment service providers abroad, while ensuring immediate transfer of repatriated funds belonging to other OBUs or Domestic Banking Units via the BD-RTGS system.
Topics
payments
fx
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