State Bank Of Pakistan Invites Views For Revision Of FE Manual Related To Commercial Remittances

Considering the market dynamics and keeping pace with changing business environment, the State Bank of Pakistan (SBP) is in the process of revising the Foreign Exchange (FE) Manual in consultation with relevant stakeholders in a phased manner

KARACHI, (UrduPoint / Pakistan Point News - 5th Apr, 2021 ):Considering the market dynamics and keeping pace with changing business environment, the State Bank of Pakistan (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 facilitation of the stakeholders, said a statement on Monday.

In this regard, 11 chapters out of 22 of 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.pdfAccordingly, comments/views/ suggestions on the proposed/ draft Chapter-14 (Commercial Remittances) of FE Manual may be submitted at [email protected] latest by April 21.