Import LCs
Amid “Challenging Times”, ICC Trade Register Reinforces Low-Risk Nature of Trade Finance
In October 2024, ICC printed its 2024 Trade Register Report and released access to it electronically thereafter.
Pakistani Banks Required to Arrange USDs for Import LCs
State Bank of Pakistan (SBP), the country’s central bank, has lifted restrictions on Pakistani banks opening letters of credit
Egyptian LC Policy Weakened Trader Confidence
At year-end 2022, the Central Bank of Egypt (CBE) announced cancellation of its mandate requiring use of letters of credit
Pakistan Expands Import LC Requirement
In an effort to boost protection of the country’s dwindling foreign reserves, the government has directed all importers to
Egypt to Phase Out Mandatory LCs for Imports
The Central Bank of Egypt announced in a statement released on 27 October 2022 that it will begin a process
Pakistan Curbs Imports
State Bank of Pakistan (SBP), Pakistan’s central bank, initiated a curb on imports in order to control foreign currency outflow due to Pakistan’s depleting foreign currency reserve situation.
Egypt to Ease Foreign Currency Restrictions
Following an August 2022 change in its leadership, the Central Bank of Egypt has eased foreign currency restrictions by permitting
Indian Import of Train Wheels Produced Prior to Russian Invasion
A small portion of India’s USD 16m import order for 36,000 Vande Bharat train wheels from a Ukrainian
India Imposes Additional Measures to Detect Improper LC Documents
In a move to curb use of ante-dated LC documentation to circumvent Indian law banning wheat exports, India’s Directorate
Pakistan: Additional Support for Oil LCs
Prime Minister Shehbaz Sharif has promised that the Pakistani government will intervene on behalf of oil refineries facing potential shutdown
Bangladesh Bank LC Settlements Jump 50%
According to figures released by Bangladesh Bank, the country’s central bank, settlement of import LCs jumped nearly 50% to
