Regulatory Alerts2018-11-05
Directive No. 03-DCC-2018, of November 6
The Foreign Exchange Control Department (DCC) mandates that commercial banks report all valid foreign currency operations awaiting coverage in the Needs Map starting November 1, 2018, while excluding specific private and merchandise operations exceeding 90 and 60 days respectively. The directive requires banks to detail letter of credit numbers, quantity auction identifiers, and utilization dates within designated fields to streamline documentary import credit settlements. It revokes Directive No. 01/DCC/2018 and enters into force upon publication.
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