SBP proposes amendments to FX manual related to commercial remittances

MG News | April 05, 2021 at 06:18 PM GMT+05:00

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April 5, 2021: Considering the market dynamics and keeping pace with changing business environment, SBP is in the process of revising the Foreign Exchange (FE) Manual in consultation with relevant stakeholders in a phased manner. The primary objective of these revisions is to promote ease of doing business by simplifying the existing instructions, removing the redundancies, and delegating more powers to the Authorized Dealers for the facilitation of the stakeholders.

In this regard, 11 chapters (out of 22) of the Foreign Exchange Manual have already been revised. Continuing with the work to align the foreign exchange regime with ever-changing business dynamics, the proposed/draft chapter 14 (Commercial Remittances) of the Foreign Exchange Manual has been placed at the SBP’s website for comments of the stakeholders.

The same can be accessed at the following link:

https://www.sbp.org.pk/epd/Revised-Draft-Chapter-14-(Commercial-Remittance)-of-FE-Manual.pdf

Accordingly, comments/views/ suggestions on the proposed/ draft Chapter-14 (Commercial Remittances) of FE Manual may be submitted at feedback.epd@sbp.org.pk latest by Wednesday, 21 April 2021.

Press Release

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