The Ministry of Trade and Export Promotion has issued a clarification regarding banking domiciliation procedures, specifically addressing shipping costs associated with import operations. This announcement follows a statement from the Association of Banks and Financial Institutions (ABEF).
According to the Ministry, the banking domiciliation measures outlined pertain exclusively to shipping (FRET) expenses related to ongoing import activities, valid until December 31, 2025. This exceptional authorization was granted by the Ministry to streamline shipping processes.
A key objective of this initiative is to facilitate smoother shipping operations. The Ministry has instructed commercial banks to increase the banking domiciliation allocation for shipping expenses, reporting directly to the Ministry during the specified period. This measure ensures transparency and meticulous monitoring of these transactions.
Regarding other import operations – whether related to management activities, equipment procurement, or resale activities – the Ministry reiterated that these remain subject to the established provisional program and the banking domiciliation document issued by the relevant ministerial department, adhering to existing regulations and procedures.
The Ministry’s statement emphasizes that this step aims to regulate import activities and align with the dynamics of foreign trade. This alignment is intended to guarantee market stability and the efficient conduct of banking transactions related to shipping and imports. The initiative is expected to foster a more stable and predictable environment for businesses involved in international trade.
The Ministry is committed to ensuring a transparent and efficient import process. Further details and updates will be provided as needed to keep stakeholders informed.
