Watchlist deletion and amendment
- The Memorandum amends MAAB No. 01 dated February 06, 1991.
- The amendment deletes the following from the Central Bank Watchlist:
- Cherokee Apparel Corporation
- Enrique K. Razon, Jr.
- Abelardo G. Teodoro
- The deletion applies to these listed firm/persons identified by name.
Export declarations and permits processing
- Export declarations/permits (EDs/EPs) covering exports of any commodity filed by Cherokee Apparel Corporation and by Enrique K. Razon, Jr. and Abelardo G. Teodoro may be given due course by authorized agent banks.
- Applications for the purchase of foreign exchange for whatever purpose may also be given due course by authorized agent banks for the same firm/persons.
- The agent banks need no referral to the Central Bank for these EDs/EPs and foreign exchange purchase applications.
- The EDs/EPs and foreign exchange applications must comply with all other Central Bank rules.
Foreign exchange facilities reinstated
- The Memorandum restores the use by Cherokee Apparel Corporation and the named individuals of the Central Bank rediscounting facility.
- The Memorandum also restores the use by said firm/persons of the foreign currency loan facility under Circular No. 1317 dated December 11, 1991.
- The restoration is effective upon the Memorandum’s effectivity date: immediately.