Finance

SBP revises selected chapters of Foreign Exchange manual

Karachi, July 20, 2019: Considering the market dynamics, business environment and changes in way of doing business, the State Bank is in the process of revising the Foreign Exchange Manual in consultation with relevant stakeholders in a phased manner.

The revision is mainly aimed at simplification of the existing instructions, adoption of best international practices, removal of redundancies, the introduction of new foreign exchange regulations and gradual delegation of powers to the Authorized Dealers for the facilitation of the stakeholders.

In this respect, seven chapters of the FE Manual have already been revised in November 2018 and placed at the SBP’s website.

Now, three chapters of the Manual regarding regulations on Non-resident Rupee Accounts, Blocked Accounts & Dealings in Foreign Currency Notes and Coins, etc. By the Authorized Dealers stand revised.

The revised chapters of the Manual have been placed on the State Bank’s website http://www.sbp.org.pk/fe_manual/index.htmfor reference of the stakeholders.

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