Regulatory Alerts2019-10-07
Added · Updated
FEPD Circular Letter No. 22: Regarding not to open Letter of Credit in favor of importers without the new 13-digit BINs
The document instructs authorized dealer banks to refrain from issuing letters of credit on behalf of importers who do not possess the new 13-digit Business Identification Numbers (BINs). This directive enforces instructions issued by the National Board of Revenue on September 29, 2019, requiring all concerned parties to take necessary measures to comply with the new identification requirement for import transactions.
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