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.