Currency Exchange Facility for Overseas Filipino Workers Returning from Lebanon
MEMORANDUM NO. M-2006-018
TO : ALL BANKS
Subject : Currency Exchange Facility for Overseas Filipino Workers Returning from Lebanon
Pursuant to Monetary Board Resolution No. 1052.B dated 24 August 2006, Memorandum to All Banks No. M-2006-016 dated 25 August 2006, containing the guidelines for the implementation of the subject CEF, is hereby amended to include as item No. 10 thereof, the following:
"10. The amount of Lebanese Livres exchanged by an Overseas Filipino Worker (OFW) under the Lebanese Currency Exchange Facility shall be stamped on said OFWs passport, for purposes of compliance with the limit of up to 300,000 Lebanese Livres each OFW is allowed to exchange."
Please be guided accordingly.
AMANDO M. TETANGCO, JR. Governor
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