Regulatory Alerts2010-11-04
Added · Updated
FEPD Circular Letter No. 19: Receipt of Funds by NGOs from Abroad
The Foreign Donations Regulations (Voluntary Activities) Ordinance, 1978 and the Foreign Contributions (Regulation) Ordinance, 1982 prohibit the receipt and expenditure of foreign donations for voluntary activities without prior government approval. Authorized dealer banks are directed to ensure approval from the Bureau of NGO Affairs before releasing funds from any NGO Mother Account and are held jointly liable with NGOs for unauthorized transactions. Banks must instruct their subordinate branches to strictly adhere to this requirement to prevent the receipt of foreign aid without the necessary regulatory consent.
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