Regulatory Alerts2017-01-22
Added · Updated
FE Circular No. 02: Short term foreign currency borrowing by Type A industries in EPZs/EZs
Type A industries in Export Processing Zones (EPZs) and Economic Zones (EZs) are permitted to obtain short term foreign currency loans from parent companies, shareholders abroad, and other Type A subsidiaries or associates operating within EPZs or EZs. Authorized Dealers must verify that funds transferred within these subsidiaries or associates are unencumbered before executing the transfer.
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