New Chairman of the Inter-Agency Committee on Domestic Borrowings of Foreign Firms (IAC-DBFF)

CIRCULAR LETTER Series of 1995

TO : All Banks and Non-Bank Financial Intermediaries Authorized to Perform Quasi-Banking Functions

For your information and guidance, the Inter-Agency Committee on Domestic Borrowings of Foreign Firms (IAC-DBFF) which implements Circular No. 572, as amended, has a new chairman, Mr. Melito S. Salazar, Jr. Undersecretary of the Department of Trade and Industry and Vice-Chairman and Managing Head of the Board of Investments.

The certification to borrow which may be issued by the IAC-DBFF starting 28 March 1995 in favor of authorized foreign firms shall bear either his signature or, in his absence, the signature of the undersigned as Co-Chairman.

Mr. Melito S. Salazar's signature is shown below.

_______________________ MELITO S. SALAZAR, JR.

EDGARDO P. ZIALCITA Deputy Director