Currency Exchange Facility for Libyan Dinar for Overseas Filipino Workers Evacuated from Libya

BANGKO SEruTNEI NG PILIPINAS OFFICE OF THE GOVERNOR MEMORANDUM NO. M.2011-012 To: ALt BANKS Subject: Currency Erchange Facility for libyan Dlnar for Overseas Filipino Workes Evacuated from Libya Pursuant to Monetary Board Resolution No. 307 dated 3 March 2011 approving the establishment of a Currency Exchange Facility (CEF) for overseas Filipino workers (oFWs) evacuated from Libya, the following are the guidelines for the implementation of subject CEF: 1. The Bangko Sentral ng Pilipinas (BSP) will accept Libyan dinar banknotes for conversion to pesos from OFWs evacuated from Libya; 2. Bankg particularly those with branch offices at the philippine international airports shall offer similar exchange facility and extend their banking hours, as needed, to accommodate arrivals of OFWs; 3. Each OFW will be allowed to exchange up to a maximum equivalent of PHP10,000.00 of Libyan dinars; 4. Exchange shall be allowed only within seven (7) banking days from date of arrival or from the date of issuance of the implementing BSP Memorandum to All Banks, whichever is applicable, through bank andlor with the BSp Cash Department (Head ffice) andlor BSP Regional Offi ces/Branches; 5. The BSP and the bank reserve the right to require the OFWs to present documentary proof, such as passport or valid travel papers (issued and signed by the Philippine Embassy, stamped with the date of the OFWs' arrival in the Philippines); 6. The BSP shall set the reference rate to be used in the exdrange and post this in the daily BSP Reference Exchange Rate Bulletin; A. Mobini st., Molote 1004 Monito, phitippines. 1632) s24-7ol1 . www.bsp.gov.ph . [email protected]

7. Applicant shall fill up the prescribed CEF Conversion Slip (pro-forma attached as Annex A) for the exchange of the l_ibyan dinar; 8. Banks shall sell to the BSP Libyan dinars purchased under the CEF within seven (7) banking days from date of purchase; 9. Bank shall submit on a weekly basis to the Bsp-lnternational Operations Department, a Consolidated Summary of purchases of Libyan Dinars under the Currency Exchange Facility within three (3) banking days after end of reference week using the attached prescribed form (Annex B); and 10' The Libyan dinars purchased under the cEF shall not be included in the computation of the foreign exchange position of bank. This Memorandum shall take effect on 7 March 2011. Atts.: A/S 3 March 2011

ANNEX A EIANoKO S'ENTRAL NO PILIPINAg BSP CURRENCY EXCHANGE FACILIW CONVERSION SLIP Name Address Country Coming From Date of Arrival Airline Flight No. Required Documents Presented: E Passpon No. fl travel Documents- Exchange Amount Type of Currency Rate FX Peso Equivalent Libyan dinar lotal {Not to excged the equivalent of pHp1o,mo.oo) Printed Name and SiBnature of OFW Tellet

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