All Authorised Dealers
in Foreign Exchange,

 

BACK TO BACK REMITTANCE

Attention of Authorised Dealers is invited to F.E. Circular No. 24 of October 14, 1999 regarding the captioned subject.

2. It has now been decided that the Authorised Dealers may be allowed to issue foreign currency travellers’ cheques to foreign nationals and Pakistani nationals (resident and non-resident) against surrendering of an equivalent amount of foreign exchange in cash. Hence, following para may be added as Para 48, Chapter XVII of Foreign Exchange Manual (Eighth Edition, 2002).

‘Authorized Dealers may issue foreign currency travellers’ cheques to foreign nationals and Pakistani nationals (residents and non-residents) for travel purpose only upto the limit prescribed under para 10(f) Chapter XVIII of the Foreign Exchange Manual (Eighth Edition) against surrendering of an equivalent amount of foreign exchange in cash’.