Pakistan Customs, Tax, Shipping & Business News Resource
State Bank of Pakistan has suspended, with immediate effect, the authorization of the following Exchange Companies –B Category till further orders due to serious violations of the State Bank’s regulations…
State Bank of Pakistan has decided to introduce structural reforms in the Exchange Companies’ sector. As part of these reforms, leading banks actively engaged in foreign exchange business will establish…
The State Bank of Pakistan (SBP) has suspended, with immediate effect, the authorization of two Exchange Companies, namely, Orient Exchange Company-B (Pvt.) Limited and Best Way Exchange Company-B (Pvt.) Limited…
SBP has amended foreign exchange regulations with an objective to promote documentation and transparency in the foreign exchange transactions between exchange companies. In terms of revised regulations, it has been…
In view of recent volatility in the exchange rate and the difference between the interbank rate and the rate offered by Exchange Companies (ECs) and banks to their customers, State…
In order to enhance the flow of home remittances through formal channels and improve foreign exchange liquidity in the interbank market, State Bank of Pakistan together with the Government of…
State Bank of Pakistan has revised Statutory Liquidity Reserve (SLR) requirement of Exchange Companies from 25% to 15% of their capital. The enhanced liquidity with exchange companies will enable them…
KARACHI: The authorities of Pakistan and Iran have proposed to establish bank branches in each others’ territories to improve banking relations between the two countries. Iran’s banks would setup their…
KARACHI: The State Bank of Pakistan (SBP) has decided to delink renewal of license of Exchange Companies with the inspection rating. SBP in April 2012 linked duration of license of…