Circulars/Notifications - Exchange Policy Department  
FE Circular No. 04 of 2012

September 04, 2012



The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange


Dear Sirs/Madam,

Foreign Currency Accounts and Trade Loans under FE-25 Scheme

Attention of Authorized Dealers is invited to Para-6 of Chapter VI of F.E. Manual (Eighth Edition-2002) and other instructions issued on the subject from time to time.

In this regard, it has been decided that Authorized Dealers may open foreign currency accounts and extend trade loans under FE-25 Scheme in US Dollar (USD), Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), UAE Dirham (AED), Saudi Riyal (SAR), Chinese Yuan (CNY), Swiss Franc (CHF) and Turkish Lira (TRY).

Further to EPD Circular Letter No. 07/EPP.16 (326) NFCA-2002 dated September 12, 2002, it is advised that the interbank placements and interbank SWAPs or any other source of foreign currency liquidity that is permitted under SBP Rules / Regulations can be used to extend trade loans in the above foreign currencies. However, currency of the trade loan should be the same as that of the underlying LC/ Firm Trade Contract.

The above instructions are applicable with immediate effect. All other instructions on the subject shall remain unchanged..

Authorized Dealers are advised to bring the above to the notice of all their constituents and ensure meticulous compliance.

 

Yours faithfully,

Sd/-

(Mohammed Mansoor Ali)
Director

       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.