Pursuant to MB Res. No. 840 dated September 4, 1992, and in line with Circular No. 1348 dated July 28, 1992, the requirement that all importations by public and private sector borrowers funded by duly approved foreign loans be referred to the Central Bank for prior clearance, is hereby waived.

It is understood, however, that such importations shall be governed by Circular No. 1348 dated July 28, 1992, particularly the submission of the required permits/clearances from appropriate government agencies, wherever applicable.

Please be guided accordingly.

Adopted: 15 Sept. 1992