Tag: foreign currency account
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SBP enhances scope of foreign currency account funds utilization
KARACHI: State Bank of Pakistan (SBP) has enhanced scope of funds utilization in the foreign currency accounts in order to facilitate exporters.
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Accessing foreign currency accounts not under consideration: Dar
ISLAMABAD: Finance Minister Ishaq Dar Wednesday said that the government was not considering to access foreign currency accounts of depositors because these are property of the citizens.
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SBP introduces foreign currency, rupee value business accounts
KARACHI: The State Bank of Pakistan (SBP) has announced a new category of foreign currency and rupee value business accounts to enhance financial inclusion and facilitate non-resident Pakistani investors.
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No plan to freeze foreign currency accounts: SBP
KARACHI: The State Bank of Pakistan (SBP) on Monday rejected rumors related to freezing foreign currency accounts. The SBP in a statement said the government of Pakistan and the State Bank assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in Pakistan that their accounts…
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SBP broadens utilization of foreign currency accounts for exporters
KARACHI: State Bank of Pakistan (SBP) has broadened the purposes for which the funds retained by exporters in the Special Foreign Currency Accounts (SFCAs) can be utilized. Banks are allowed to make payment from the accounts for a number of new purposes in addition to existing ones, SBP said in a statement on Friday. However,…
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Banks allowed opening foreign currency accounts of entities operating in STZs
KARACHI: State Bank of Pakistan (SBP) on Friday allowed commercial banks to open foreign currency accounts by entities operating under newly established Special Technology Zones (STZs) The SBP in a notification said that in order to further the objectives of establishing the Special Technology Zones under the Special Technology Zones Authority Ordinance, 2020, it has…
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SBP allows opening foreign currency account to individuals holding POC
KARACHI: State Bank of Pakistan (SBP) on Tuesday allowed non-resident individuals holding Pakistan Origin Card (POC) to open foreign currency account. The SBP said that as per FE circular No. 02 dated August 05, 2020, a non resident individuals is eligible to open foreign currency account. The SBP clarified that an individual non-resident, holding Pakistan…
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