Purchase / Collection
Purchased or accepted drafts for collection are divided into the following:
Drafts drawn by branches or external correspondents on branches or branch centers. These drafts are purchased in cash.
Bank drafts drawn by big and well known banks whose authorized signature publications are available in Bank branches. Drafts of this type may be credited to beneficiaries' accounts, if their value equals USD 2,000 or less; their collection periods are specified according to the country of the bank from which they are drawn.
Personal cheques whose drawers are either individuals or legal entities and which are drawn on their accounts at branches or at external banks. Such cheques are taken and dispatched by the Bank on collection basis; they are to be credited to the beneficiaries' accounts only after their final collection
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