All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

STANDARD TERMS FOR CONTRACTING FOREIGN PRIVATE LOANS/CREDITS

Attention of the Authorized Dealers is invited to F.E. Circular No.36 of 1991 in terms of which entrepreneurs in the Industrial Sector were allowed to negotiate rate of interest, front-end fees/charges and repayment period for cash loans/credits, on the best possible terms.

2. It has now been decided that the repayment period of Foreign Private Loans including Suppliers Credit should not be less than five years.

3. Other instructions on the subject remain unchanged.

4. Please bring the above to the notice of your constituents concerned.