The Chief Executives of all
Exchange Companies &
Exchange Companies of ‘B’ Category
Dear
Sirs / Madam,
Amendment
in Exchange Companies Rules and Regulations
Attention
of Exchange Companies of both categories is invited to instructions
contained in FE Circular No. 04 dated 23rd July, 2013 in
terms of which certain restrictions on sale/purchase and
outward remittances were imposed.
It
has been decided to partially modify the instructions issued
under Para (b) and (c) of above referred Circular. Henceforth,
all sale and outward transactions of USD 35,000 or above
(or equivalent) shall be conducted by the exchange companies
through Crossed Cheque/DD/PO issued from the personal account
of the customer and instrument number and issuing bank’s
name shall be mentioned on the transaction receipt alongwith
CNIC/Identification Number of the customer. Furthermore,
the requirement of obtaining National Tax Number (NTN) has
been withdrawn.
All
other terms and conditions on the subject shall remain unchanged.