Attention of the Authorized Dealers (ADs) is invited to paragraph 02 of FE Circular No. 02, dated January 13, 2014 in terms of which ADs are allowed to furnish bank guarantees/performance bonds not exceeding Saudi Riyal 1,00,000 on behalf of approved Umrah agents in favor of official umrah service agents/providers of Kingdom of Saudi Arabia (KSA).
- It has now been decided that limit of the aforementioned guarantees/performance bonds has been enhanced to Saudi Riyal 2,00,000.
- Other instructions contained in the FE Circular No. 02, dated January 13, 2014 shall remain unchanged.
Please bring the content of this circular letter to the notice of all concerned.