Section 38January 26, 1990, Sec./Art. 38

Exemption from Customs Duties. - Within the first five (5) years of operation of the Islamic Bank, all importations by the Bank of machinery, equipment, calculators and computers and accompanying spare parts, as may be necessary for its operation, shall be exempted from customs duties and compensating taxes payable thereon: provided, however, that same shall not be disposed of domestically unless payment is made of all duties thereof at the tariff rates and according to their condition at the time of disposal and upon compliance with all import and exchange procedures.