Regulatory Alerts2010-11-04
Added · Updated
FEPD Circular Letter No. 19: Receipt of fund by NGO from abroad
The Foreign Exchange Policy Department directs all Approved Dealer Banks to cease releasing foreign aid funds from any Mother Account for NGOs unless prior approval from the NGO Affairs Bureau is obtained. This directive enforces Sections 3(1) and 4(1) of the Foreign Donations Regulations (Voluntary Activities) Ordinance, 1978, and the Foreign Contributions (Regulation) Ordinance, 1982, which prohibit receiving or expending foreign donations without government permission. Both the concerned NGOs and the banks are held equally liable for unauthorized receipt and disbursement of funds.
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