Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No.16 of 2005
December 27, 2005 

The Head/ Principal Offices of all
Authorized Dealers in Foreign Exchange

Dear Sirs/Madam

Scheme for Warehousing in Kenya – Facilitation to the Exporters

In order to encourage exports to Kenya through a Warehousing Scheme, to be announced by the Export Promotion Bureau, it has been decided to facilitate the exporters utilizing EPB’s Warehousing Scheme in Kenya as under: -
  • Exporters will be allowed enhancement in period for repartition of export proceeds from existing 180 days to 270 days.
  • It will be permissible for the exporters to reduce prices on the unsold stock. General permission will be granted up to a discount of 15%, if the goods are not sold. Beyond this limit, SBP’s approval will be required on a case-to-case basis.
  • Present retention percentage of 10% of FOB value of goods realized in terms of para 32 (III) of Chapter XII of FE Manual, would be enhanced to 25% in case of export through the Warehousing Scheme.
Authorized Dealers are advised to bring the above to the notice of their constituents.

 

Yours faithfully,

Sd/-
(Azhar Kureshi)
Director

       
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