June 18, 2020
International Banking - Foreign Exchange Service
· Forex bureaus may also sell FCY Cash Notes for Holiday travel expenses, Business travel allowance, medical expense, Educational expenses and General transfers as per NBE’s Directives and the Bank’s Policies and Procedures.” icon=”fa fa-handshake-o”][info_list_son style=”icon” titleclr=”#772417″ descclr=”#000000″ title=”Purchase and Sales of Travelers’ Checks” desc=”· Travelers’ checks are payment instruments issued by Travelers’ Check Issuing Financial Institutions.
· BIB holds Travelers’ Checks against payment of foreign exchange or in trust on behalf of issuing financial institutions
Foex bureaus of the Bank sell and purchase travelers Checks to /from customers in addition to FCY Cash Notes in accordance with applicable Directives of NBE and the Bank’s Policies and Procedures. ” icon=”fa fa-plane”][/info_list_father]