Regulatory Alerts2013-06-26
Added · Updated
Redistribution of foreign exchange related activities to avoid overlapping
Applications for specific foreign exchange transactions are redistributed among the Foreign Exchange Investment Department, Foreign Exchange Operation Department, and Foreign Exchange Policy Department to avoid overlapping. The Foreign Exchange Operation Department assumes responsibility for monitoring import-related transactions and receiving statements on overdue import bills, commodity-wise import data, and outstanding letters of credit from Authorized Dealers. Remittance applications for sectors such as five-star hotels, airlines, and training expenses are assigned to the Foreign Exchange Investment Department and Foreign Exchange Operation Department respectively, while audit fees and donations remain with the Foreign Exchange Policy Department. Non-typical cases may be referred to the Foreign Exchange Policy Department for decision or approval.
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