Regulatory Alerts2012-10-02
Added · Updated
FEPD Circular No. 10: Export Subsidy against the Export Proceeds received by TT in advance for the export of Halal Meat
The document establishes conditions under which export subsidy benefits are available for advance foreign exchange receipts via Telegraphic Transfer (TT) for Halal Meat exports, supplementing existing Letter of Credit rules. Approved Dealer Banks must verify the foreign buyer's credibility, price accuracy, and actual export through a certificate from the Export Promotion Bureau or an approved exporters' association, and ensure remittances originate from the destination country via banking channels excluding exchange houses. All other applicable regulations regarding export subsidy claims in this sector remain unchanged.
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