Regulatory Alerts2021-03-14
Added
FEPD Circular No. 08: Relaxation of foreign exchange regulations for trade transactions - extended facilities
The time for repatriation of export proceeds is extended to 210 days from the date of shipment, valid until June 30, 2021. Back-to-back letters of credit under supplier’s or buyer’s credit are extendable by an additional 180 days within the permissible rate of interest, with validity extended to June 30, 2021. Loans from the Export Development Fund are extendable by an additional 180 days instead of 90 days, and refinancing from the Export Development Fund up to 180 days to settle import payments against back-to-back letters of credit are also extended until June 30, 2021.
Topics
fx
Share