All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

Attention of the Authorized Dealers is invited to the instructions contained in para 42, Chapter XIII of the Foreign Exchange Manual (7^th Edition, 1992), in terms of which they are required to obtain State Bank’s prior approval for effecting remittances in respect of imports where the documents have not been received through them but have been received directly by the importers.

2. It has since been decided to waive the above requirement and permit the Authorized Dealers to approve Forms 'I' and effect remittances in respect of imports made against the contracts registered by them where the documents have been received directly by the importers provided the requests for remittances are accompanied by the triplicate copies of Custom’s bill of entry for consumption or Custom’s certified invoices, non-negotiable copies of Bills of Landing/Airway Bills/Railway Receipts/Truck Receipts, Invoices and 'I' forms duly completed and signed by the importers.

3. Formal amendment in the Foreign Exchange Manual (7^th Edition – 1992) will be made in due course.