Foreign currency account permissions govern airline expenses, joint ventures, investments, trade set-off, and derivative margin transactions. Authorised dealers may permit specified foreign persons and entities to maintain accounts for defined business, investment, trade-adjustment and ... Summary
Foreign currency account permissions govern airline expenses, joint ventures, investments, trade set-off, and derivative margin transactions.
Authorised dealers may permit specified foreign persons and entities to maintain accounts for defined business, investment, trade-adjustment and derivative-margin purposes. Foreign-incorporated shipping and airline companies may use Foreign Currency Accounts for local expenses subject to restricted credits. Unincorporated joint ventures may maintain non-interest-bearing foreign currency and SNRR accounts for ordinary-course transactions during their contract or operating period. Non-residents may maintain accounts for import-export value adjustment and permitted derivative margin, while eligible foreign investors may maintain non-interest-bearing foreign-currency accounts for permitted investments.
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