Regulatory Alerts2023-04-09
Added
FEID Circular Letter No. 04: Placement of fund from Offshore Banking Operations to Domestic Banking Units
Domestic Banking Units (DBUs) are authorized to receive funds from any Offshore Banking Operations (OBOs) up to 40% of their total regulatory capital to settle permissible payment obligations under prevailing foreign exchange rules. This facility is valid until December 31, 2023. Previously, OBOs were allowed to place funds with a limit not exceeding 25% of the bank's total regulatory capital for specific import payments, a provision valid until June 30, 2023.
Topics
fx
capital
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