KARACHI: In order to further streamline the process of remittance of disinvestment proceeds, State Bank of Pakistan (SBP) has decided to further delegate the authority to banks of resident companies for remittance of disinvestment proceeds to non-resident investors, a statement said on Monday. The SBP invited the attention of the Authorized Dealers (ADs) or banks […]

KARACHI: Sending currency notes and coins into Pakistan by post is illegal and liable to confiscation under updated Foreign Exchange Manual issued by State Bank of Pakistan (SBP). The SBP said that laws in force are prohibiting the bringing or sending into Pakistan from any place outside Pakistan, of Pakistan and foreign currency notes or […]

KARACHI: Authorized dealers have been allowed to remit foreign exchange up to $50,000 on account of medical treatment abroad of resident Pakistanis only. According to Foreign Exchange Manual updated up to March 14, 2019 issued by State Bank of Pakistan (SBP), authorized dealers may remit foreign exchange up to $50,000/- or equivalent in other foreign […]

KARACHI: State Bank of Pakistan (SBP) has amended Foreign Exchange Manual and issued revised Chapter 11 of the manual related to dealings in foreign currency notes and coins etc. by the authorized dealers including banks and exchange companies. Following is the revised chapter 11 issued by the SBP dated July 16, 2019: 1. Introduction. Authorized […]

KARACHI: State Bank of Pakistan (SBP) has revised blocked accounts of non-resident Pakistanis under Foreign Exchange Manual and laid down procedure for investment of amount from such blocked account. The SBP on Wednesday issued revised chapters of Foreign Exchange Manual and said that balances held in blocked accounts may be invested in approved government debt […]

KARACHI: The laws have prohibited export from Pakistan of jewellery or precious stones except with the general or special permission of the State Bank (SBP).