CFC ACCOUNT

Customer Foreign Currency Account

Customer Foreign Currency Account, is a useful mechanism for managing the flows of foreign currency.

Customer Foreign Currency account also Called CFC Account for Companies active in the international market, be it trade or for the provision of services. CFC accounts are held for Importers and exporters for the movement of goods only.

Service providers associated with import and export transactions, are namely ships agents, freight forwarders, marine insurance brokers, tour operators, and entities with similar business operations.

Purpose

Denominated in a foreign currency.

Conducted in the books Bank BIC Namibia Limited.

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