SBP simplifies remittances for non-resident directors

MG News | January 23, 2026 at 10:04 AM GMT+05:00

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January 23, 2026 (MLN): The State Bank of Pakistan has relaxed the procedure for making payments to non-resident directors, chairmen, Shariah advisors, and Shariah scholars of SBP-regulated entities.

Authorized Dealers may now process remittances relating to remuneration, meeting fees, and similar payments without obtaining prior approval from the central bank, subject to completion of the required documentation, according to the notice of SBP.

The change is intended to facilitate SBP-regulated entities by simplifying the remittance process and reducing procedural delays.

Authorized Dealers have been advised to ensure strict compliance with the updated instructions while processing such payments.

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