Regulatory Alerts2025-11-25 | TOD Circular Letter No. 01 of 2025Added · Updated
Submission of FCY Cross Border Payments Transfers Cases via Regulatory Approval System (RAS)
Banks and Islamic Banks are required to submit documentation for Local EUR and GBP Settlement account deposits and withdrawals through the Regulatory Approval System (RAS) effective from December 1, 2025. This mandate extends the existing RAS functionality, previously limited to US Dollar cases, to include Euro and British Pound transactions. Consequently, the submission of physical cases for these specific transactions is discontinued, while all other existing instructions remain unchanged.
Topics
fx
payments
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