State Bank of Pakistan KARACHI: State Bank of Pakistan (SBP) on Tuesday restricted the amount of foreign currency in cash up to equivalent to USD 5,000 from USD 10,000. The central bank issued a circular stating that it had reviewed the existing foreign currency cash carrying limits for travel purposes, and decided to further rationalize the same. As per … Read more
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) on Thursday amended instructions in Foreign Exchange Manual regarding remittances on behalf of Hajj group and Umrah organizers. The SBP invited attention of banks and exchange companies to Para 45A and 45B, Chapter 17 (Travel) of Foreign Exchange Manual in terms of which banks and exchange companies are … Read more
KARACHI: State Bank of Pakistan (SBP) has issued instructions to exchange companies and set limits for the sale of foreign currency to individuals. The SBP issued a circular dated December 19, 2021 and revised instructions in Exchange Companies Manual. The central bank said that exchange companies may sell foreign currency to individuals while ensuring the … Read more
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) on Tuesday revised Foreign Exchange Manual related to remittances for petroleum sector operating under petroleum concession agreements. The central bank invited attention of Authorized Dealers is drawn towards Para 27 of Chapter 14 of Foreign Exchange Manual in terms of which SBP notified the process of remittance for … Read more
State Bank of Pakistan KARACHI: State Bank of Pakistan (SBP) on Monday relaxed conditions of the Foreign Exchange Manual to facilitate Afghan Transit Trade in the wake of prevailing conditions in the neighboring country. The central bank issued a circular to relax the conditions. The SBP through Foreign Exchange Circular No. 07 dated August 05, 2021 in terms of … Read more
State Bank of Pakistan State Bank of Pakistan (SBP) has revised foreign exchange manual related to Royalty, Franchise and Technical Fee (RFT) for ease of doing business. The central bank said that in order to implement the revised policy on RFT (Para 12, Chapter 14 of Foreign Exchange Manual), Authorized Dealers/banks shall set up a centralized unit to facilitate … Read more
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) on Thursday said that it has revised Foreign Exchange Manual to facilitate legitimate cross border payments. In a statement the central bank said that it had notified revision of foreign exchange instructions pertaining to commercial remittances with the objective of promoting ease of doing business and facilitating legitimate … Read more
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) has issued a procedure to make imports on an open account basis. The SBP updated 13th Chapter of Foreign Exchange Manual to incorporate major changes made to the manual. The central bank issued the procedure for imports without letter of credit/registration of the indent/proforma invoice/order (open account basis). (i) … Read more
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) has amended foreign exchange manual related to advance import payments. The central bank on July 19, 2021 issued revision in chapter 13 of foreign exchange manual. Following is the text of amendments made to Chapter 13: (i) Authorized Dealers (AD) / banks are allowed to effect import advance … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday issued a draft of Foreign Exchange Manual and proposes changes in procedure for repatriation of profit by foreign firms operating in Pakistan. The SBP invited comments on the draft amendments in Foreign Exchange Manual from stakeholders to finalize the changes. According to the SBP branches of … Read more