State Bank of Pakistan extends home remittance services

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MG News | November 27, 2019 at 11:11 AM GMT+05:00

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November 27, 2019 (MLN): State Bank of Pakistan via notification informed to all Authorized Dealers in Foreign Exchange regarding extension in Home Remittance Services.

According to F.E. Circular No. 11 dated October 22, 2018, overseas Pakistanis have been allowed to remit Business to Customer (B2C) and Customer to Business (C2B) transactions through home remittance channel.

In order to further facilitate freelancers and pensioners, it has been decided that, henceforth, following transaction limits shall apply:

S.No.

Transaction Type

Transaction Limit

Business-to-Customer (B2C)

1

Freelance of Computer and Information System Services

Equivalent to up to USD 5,000/individual/month

2

Other Freelance Services

Equivalent to up to USD 5,000/individual/month

3

Pension Transactions

Equivalent to up to USD 2,500/individual/month

It is notified that all other instructions on the subject shall remain unchanged. Further, Authorized Dealers are advised to bring the same to the notice of all their constituents.

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