Regulatory Alerts2016-07-13
Added · Updated
FEPD Circular No. 19: Release of foreign exchange to private sector participants for attending
Paragraph 4 of Chapter 12 in the Guidelines for Foreign Exchange Transactions (GFET), 2009 (Vol-1) is replaced to enhance the limit of releasable foreign exchange for private sector participants attending seminars, conferences, workshops, and training abroad. Authorised Dealers may release up to USD 350 per diem for SAARC member countries or Myanmar and USD 400 per diem for other countries, based on invitation letters and the actual program duration. Releases exceeding these limits require requests supported by documented proof of expenses submitted to the Foreign Exchange Operation Department. This instruction comes into force immediately pursuant to section 20(3) of the Foreign Exchange Regulation Act, 1947.
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