Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 14 of 2004
September 17, 2004 

The Head Offices of all
Exchange Companies

Dear Sirs,

Remittances by Hajj Group Organizers for Hajj-2005

Attention of the Exchange Companies is invited to the provisions of FE Circular 9 dated July 30, 2002 outlining the scope of permissible transactions for the Exchange Companies. As a one time exception and in order to facilitate Hajj pilgrims for Hajj-2005, it has been decided to allow remittances by Hajj Group Organizers through the Exchange Companies strictly in adherence to the provisions of the Hajj Policy-2005 of the Government. This specific one time permission to the Exchange Companies established under FE Circular 9 dated July 30, 2002 is granted for release of foreign exchange to the Hajj Group Organizers (HGOs - who may be a proprietorship, partnership or a private limited company) enlisted with the Ministry of Religious Affairs, under Private Hajj Scheme for Hajj-2005. These remittances shall be on account of accommodation charges and compulsory Hajj dues to the concerned Saudi Arabian agencies.

Accordingly, the Exchange Companies may effect Hajj-2005 related remittances, as per the amounts/percentage of Hajj packages advised by the Ministry to each HGO individually, after proper verification of the relevant documents and recording of the transactions as under:

i) Letter in original from Ministry of Religious Affairs must be presented by HGOs to Exchange Companies showing enlistment as HGO and allocation of the seats (Exchange Companies effecting remittances must invariably endorse short details and full amounts of remittances allowed on the reverse of this letter retaining a copy for their record).

ii) Letter from Ministry of Religious Affairs describing the detailed instructions to be followed by the HGO and amount and/or percentage of foreign exchange to be remitted to Saudi Arabia.

iii) List of Hajjis alongwith copies of relevant pages of Hajj passport i.e. first two pages & the page bearing visa (to be obtained before schedule departure dates).

iv) Copy of the Air Ticket (to be obtained before schedule departure dates).

Copies of the above documents shall be retained by Exchange Companies and must be made available to the Inspection Team of State Bank of Pakistan as and when called for.

The Exchange Companies shall report these transactions to State Bank of Pakistan in:

-    Monthly returns namely “Outward Remittance” under the column “Religious Travel - Hajj”.
-    Weekly returns, the amount should be shown on Statement ‘B’. A foot-note mentioning the amount of remittances on account of Hajj Related expenses by the Hajj Group Organizers should also be given in the return.

The above permission is only applicable for Hajj-2005 and Exchange Companies should ensure that no remittance is allowed under this circular after the last day of Ziqa’ad, 1425 A.H.

Please bring the above instructions to the notice of your constituents.

Yours faithfully

(Syed Samar Hasnain)
Joint Director

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