Circulars/Notifications - Exchange Policy Department  
 F.E. Circular Letter No. 40
November 29, 2000 

All Heads / Principal Offices
of authorized Dealers

Dear Sirs,

Reimbursement of T.T Charges against home remittances

Please refer to our Circular letter No. 21/EPP-1(96)poly-2000 dated the 28th July, 2000 on the above noted subject.

2. Keeping in view the difficulties experienced by the banks and to provide more incentive to the banks to accelerate Home Remittance, it has been decided that henceforth:

i)The minimum amount of remittance of US$ 200/- to qualify for reimbursement of charges is reduced to US$ 100/- or equivalent to other currency (per telex/swift charges)

ii)The reimbursement rate of SR 20/- is increased to SR 25/- for each remittance.

iii)Authorized Dealers may share the reimbursement charges at their option instead of fixed SR 6/- and remit in foreign exchange to the concerned remitting agency accordingly.

iv)The already conveyed benchmark will continue for the future remittances.
Yours faithfully,
-Sd-(M. R. MEHKARI)
Director
       
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