Regulatory Alerts2021-05-16
Added
FEID Circular Letter No. 01: Issuance of No Objection Certificate for Foreign Company Offices
Current nominated Authorized Dealers must issue no objection certificates to branch, liaison, or representative offices without undue delay when these entities change their nominated banks. The certificate must be provided for onward submission to the new nominated bank and must explicitly mention any pending regulatory issues. This instruction addresses stakeholder reports regarding delays in issuing such certificates under the Guidelines for Foreign Exchange Transactions-2018.
Topics
fx
Share