Regulatory Alerts2017-04-02
Added · Updated
FEPD Circular No. 13 : Foreign exchange transactions for IT/Software firms
The remittable limit for Authorized Dealers to remit funds on behalf of IT/Software firms is increased from USD 25,000 to USD 30,000 per calendar year. Within this new limit, the maximum amount issuable via international cards is raised from USD 2,500 to USD 6,000, with provisions for refilling subject to available limits. This facility operates independently of ERQ accounts and allows remittances through wire transfer or international cards. These instructions are effective immediately.
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