Regulatory Alerts2022-04-24
Added
FEPD Circular Letter No. 12: Insurance coverage against financing to exporters
Authorized Dealers may optionally use local insurance coverage to safeguard against default risk for post-shipment bill discounting on recourse basis, provided they obtain exporter consent. This insurance option also applies to funded or non-funded facilities at the pre-shipment stage. The use of insurance coverage does not waive the requirement for Authorized Dealers to ensure the repatriation of export proceeds in accordance with foreign exchange regulations.
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