ECs asked to seek SBP's approval before exporting dollars

By MG News | September 07, 2022 at 12:13 AM GMT+05:00

0:00

September 6, 2022 (MLN): Exchange Companies (ECs) have been asked to seek the State Bank of Pakistan’s (SBP) approval first before exporting US dollars.

To recall, SBP last month allowed exchange companies to export dollars on a consignment basis through cargo or security companies to improve the flow of foreign exchange.

In a circular issued on August 15, SBP stated that in order to enable Exchange Companies to divert the flow of foreign exchange mobilized by their interbank market, it has been decided to allow ECs to export USD on a consignment basis through cargo or security companies.

This facility will be available until September 30, 2022, it added.

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