KARACHI: State Bank of Pakistan (SBP) on Sunday issued Frequently Asked Questions (FAQs) in response to SRO issued by the finance ministry related to foreign currency account rules. Following are the FAQs: Question 1. Why there was a need to issue SRO by Ministry of Finance, if there is no change in existing foreign exchange […]

KARACHI: State Bank of Pakistan (SBP) has said that recently issued regulations related to foreign currency account have been aimed to strengthen the foreign exchange regime in the country. “The recently issued rules aim to provide a regulatory framework for the operation of individual foreign currency accounts,” the SBP said in a statement issued on […]

KARACHI: The State Bank of Pakistan (SBP) on Thursday introduced a separate category of foreign currency account for non-resident and resident Pakistanis, who have assets abroad and declared with the tax authorities. The SBP in a circular said that in order to facilitate the non-resident Pakistanis as well as resident Pakistanis, who have assets abroad […]

KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued instruction to banks and exchange companies related to foreign currency loan by private sector. A circular issued by the central bank said that the chapter 19 of Foreign Exchange Manual 2019 contained that it is required to register all foreign currency (FCY) loans, above USD […]