All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

TRAVEL ABROAD

Attention is invited to paragraphs 17, 18 and 25 chapter XVII of Foreign Exchange Manual (7^th Edition, 1992) in terms of which powers have been delegated to Authorized Dealers to sell foreign exchange to Pakistan nationals resident in Pakistan for travel abroad without prior approval of the State Bank on production of the following:-

Further, as laid down in paragraph 43 of the said Chapter, the amount of foreign exchange sold by the Authorized Dealers together with the date on which the sale is made is required to be recorded on the traveler’s passport under their stamp and signature. The exchange issued is also required to be endorsed on the traveler’s air / steamer ticket.

2. It has now been decided that with immediate effect the Authorized Dealers will retain the photo copies of pages 1, 2, & 3 with inside title page and that page of the passport on which endorsement of release of foreign exchange is made and first coupon of the air / steamer ticket and present the same to the Inspection Teams deputed by the State Bank of Pakistan. In case any Authorized Dealer fails to produce these documents in respect of any case of release of foreign exchange reported by it, will have to encash Foreign Exchange Bearer Certificates in Pakistan rupees to the extent of the amounts released in foreign exchange without the cover of the said documents.

3. Authorized Dealers may please note that above instructions for strict compliance and bring the same to the notice of their all branches dealing in foreign exchange.

4. Meanwhile please acknowledge receipt.