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  • PRU-EPRS 1.34 PRU-EPRS 1.34 Instructional Guidelines — Form B220 — Inward Remittances

    Purpose

    Form B220 — This form is designed to capture the data on inward remittances received by Authorised Firms, which include remittances made to Clients located inside the UAE.

    Applicability

    This form is applicable to Authorised Firms carrying out banking business. This involves Authorised Firms licensed to undertake Accepting Deposits and Providing Credit and Authorised Firms classified under prudential category 5 and licensed to manage PSIAs. This includes Authorised Firms operating as a Branch in the DIFC.

    Content

    The form is intended to capture information pertaining to the remittances received from a specified set of countries / regions and from the rest of world over the reporting period. The form seeks the data on remittances classified according to the purpose of the remittance. Authorised Firms are required to report data relating to all remittances received by them, both for their own account and those received on their Client accounts.

    Structure of the form in EPRS

    B220 is a single form which seeks data on inward remittances received from the different countries / regions listed in the columns. The data is to be provided across different purposes for which the remittances are made.

    The form has two sections — first section B30_010 relates to trade related to remittances and the second section which relates to non-trade related remittances.

    Derived from GM5/2007 (Made 16th December 2007). [VER1/12-07]
    [Amended] [VER2/04-13]

    • PRU-EPRS 1.34 Instructional Guidelines

      1. The data being sought in the form are self explanatory given the description provided in the title column, except for the following specific points.
      2. B30_010: Include all the trade related remittances, including but not limited to receipts on behalf of Clients for all trade finance Transactions, receipts for their exports or provision of goods or services to their Clients located outside the UAE, receipts from banks located outside providing the trade credit for such deals.
      Derived from GM5/2007 (Made 16th December 2007). [VER1/12-07]
      [Amended] [VER2/04-13]