June 07, 2023: The State Bank of Pakistan (SBP) has introduced new functionalities in Data Acquisition Portal (DAP) to automate the process of submission of documents regarding FCY cross border payments/transfer cases through SBP Nostros.

The new functionalities include T01-Asian Clearing Union (ACU) payments, T02-Local US Dollar deposits and withdrawals- FE2, and T03-CRR & SCRR deposits and withdrawals- FE25.

In this connection, SBP has advised all banks to submit their cases for processing of subject payments through DAP as per the guidelines given by SBP.

The revised automated procedure for submission of cases will come into force effect July 01, 2023, and the existing practice of sending physical documents to SBP will be discontinued from the same date.

All banks are advised to ensure meticulous compliance of aforesaid instructions.

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Posted on: 2023-06-07T10:32:27+05:00