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No Prepayment



17.11.2008 Belarus

Starting from November 16, 2008 a Resolution of the Board of the National Bank of the Republic of Belarus No. 165 on Payment Procedures under Foreign Trade Agreements Involving Import dated 11.11.2008, prohibiting prepayment for effecting advance payments by an importer in favor of a non-resident, came into effect.


Starting from November 16, 2008 a Resolution of the Board of the National Bank of the Republic of Belarus No. 165 on Payment Procedures under Foreign Trade Agreements Involving Import dated 11.11.2008, prohibiting prepayment for effecting advance payments by an importer in favor of a non-resident, came into effect.

Such payments from an account opened with a bank of the Republic of Belarus shall be currently possible only if an importer has a permission of the National Bank of the Republic of Belarus, issued upon request of the Council of Ministers of the Republic of Belarus.

The Resolution was adopted to prevent growth of negative developments in the Republic of Belarus in conditions of the world financial crisis related to capital outflow from the country.

 


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