All Exchange Companies of ‘B’ Category

Dear Sirs,

Submission of Returns (Statements A & B) on Fortnightly Basis.

It is advised that w.e.f July 01, 2005, all Exchange Companies of ‘B’ Category are mandatorily required to submit basic information about sale and purchase of all foreign currency transactions and statement of exposure i.e. FCY balances held with them as per attached statements A & B. The E.C (B)s will be required to submit those statements on fortnightly basis to the respective Field Offices of SBP-Banking Services Corporation. These returns are to be submitted by 19th & 4th of each month for the preceding fortnight. Returns for aggregate figures need to be submitted by each Exchange Company of ‘B’ Category.

Copy forwarded for information and necessary action to:

1. The Managing Director, SBP, BSC (Bank), Head Office, Karachi
2. The Director, FEOD, SBP BSC (Bank), Karachi with the request to collect the subject information from each Area Office of SBP and the consolidated report in this regard may be submitted to EPD, SBP on fortnight basis.
3. All Chief Managers of SBP-Banking Services Corporation.