To advise of the lifting of all economic sanctions on South Africa in accordance with UN General Assembly Resolution No. A/48/L/2 dated October 8, 1993
CIRCULAR NO. 11 Series of 1994
Pursuant to Monetary Board Resolution No. 587 dated December 22, 1993 and in line with the information received from the Department of Foreign Affairs per letter dated November 29, 1993, please be advised of the lifting of all economic sanctions on South Africa in accordance with UN General Assembly Resolution No. A/48/L/2 dated October 8, 1993.
Accordingly, Sections 7(2) and 16(2) of Circular No. 1389, Series of 1993 are hereby amended so as to delete from the list of regulated commodities, all goods originating from/destined for South Africa (specifically Item Nos. 16 and 22 of Appendices 1 and 5, respectively).
This Circular shall take effect immediately.
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Amendments to the Documentary Requirements for Establishing Banks and Acquisition of Significant Ownership of Voting Shares of Stock of Banks(BSP Circular No. 774)
- Reserve Fund(BSP Circular No. 116)
- Updated Rules Implementing the Truth in Lending Act to Enhance Loan Transaction Transparency for NBFIs under BSP Supervision, and Penal Provisions on Banks and NBFIs for Non-Compliance with the Applicable BSP Rules and Regulations(BSP Circular No. 754)
- Submission of Credit Card Business Activity Report (CCBAR) by All BSP Supervised-Financial Institutions (FIs) with Credit Card Operations and their Subsidiary/Affiliate Credit Card Companies(BSP Circular No. 812)
- Delivery of securities(BSP Circular No. 392)
- Guidelines on Recovery Plan of a Domestic Systematically Important Bank (DSIB)(BSP Circular No. 904)
- Establishment of branches/other offices of thrift banks and national cooperative banks(BSP Circular No. 369)
- Guidelines on Compensation and Per Diem of Trustees, Officers and Employees of Non-Stock Savings and Loan Associations (NSSLAs)(BSP Circular No. 1200)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.