Public Sector Foreign Exchange Control
Foreign exchange control from SGS – gain effective foreign exchange monitoring with our Computerised Export Payment Exchange Control System (CEPECS) to bring banks and stakeholders together on to one, internet-based, paperless electronic platform.
For increasingly complex markets, a real-time internet-based foreign exchange monitoring system is a highly effective tool. A paperless environment enables all relevant stakeholders to work together in a real-time community network, so that banks and their clients can monitor and control submissions of commodity and transport export documents and respond promptly to irregularities before customs clearance.
A foreign exchange monitoring system gives:
- Banks the ability to control the process flow, supervise the repatriation of funds and monitor Foreign Currency Denominated Accounts (FCDAs) using a web-based interface
- Regulatory agencies the ability to view electronic submissions of documents prior to exportation at border posts
- Real-time monitoring and tracking of all submissions
- Increased compliance, and tailor-made, accurate reporting facilities
- Support to audit and investigation teams and improved effectiveness through rapid response
Our SGS specialists have experience of foreign exchange monitoring all over the world, and our Computerised Export Payment Exchange Control System (CEPECS) has been tailored for use in several countries, bringing stakeholders in the export process together on to one communication platform. The CEPECS infrastructure will support multiple projects, and allows the creation and population of interactive databases within the system.
Using our SGS CEPECS solution will give you the assurance that your foreign exchange controls are firmly in place, and working effectively to minimise error and save time. Contact us to find out more.