Exchange Control Circular No. 20/2012

Circular Reference: Exchange Control Circular No. 20/2012

Circular Date: 30 November 2012

Circular Status: Withdrawn (see Exchange Control Circular No. 1/2013)

Authorised Dealers in Foreign Exchange

Authorised Dealers are referred to Exchange Control Circular No. 20/2008 dated 2008-10-14 and are advised that the appointment of Albaraka Bank Limited as an Authorised Dealer in foreign exchange with limited authority has been cancelled with immediate effect. Accordingly, the attention of Authorised Dealers is drawn to Government Notice No. R. 966 published in Government Gazette No. 35910 of 2012-11-30 in terms of which Albaraka Bank Limited is deleted from the list of Authorised Dealers in foreign exchange with limited authority.

The attention of Authorised Dealers is, furthermore, drawn to Government Notice No. R. 273 published in Government Gazette No. 34159 of 2011-04-01, in terms of which Albaraka Bank Limited was appointed as an Authorised Dealer in foreign exchange.

In addition to the necessary amendments to the Orders and Rules under the Exchange Control Regulations, 1961, the name of Albaraka Bank Limited should be deleted from the list of Authorised Dealers in foreign exchange with limited authority in Section A.2(B) of the Exchange Control Rulings and added to the list of Authorised Dealers in foreign exchange in Section A.2(A) of the Exchange Control Rulings.

A replacement page of the Exchange Control Rulings incorporating the relevant amendments is attached hereto.

Deputy General Manager

Albaraka Bank Limited
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