It has been decided to allow the Authorized Dealers (ADs) to remit foreign exchange on behalf of the Hajj Group Organizers (HGOs) having been allocated quota by the Ministry of Religious Affairs & Interfaith Harmony (MoRA) under the Private Hajj Scheme for respective Hajj season subject to terms and conditions mentioned below. The list of enlisted HGOs along with allocated quota in respect of each HGO may be obtained from MoRA.

 2.         The Authorized Dealers, on being approached, shall either open a PKR Account in the name of concerned HGO with suffix “Hajj” or use the previously opened similar account specifically for the purpose of Hajj related remittances to Saudi Arabia subject to the following:

a) While opening/activating and operating these accounts, ADs are advised to strictly follow SBP’s AML/KYC guidelines and ensure compliance of all related rules and regulations issued from time to time. They shall obtain all necessary documents from the concerned HGO.

b) For the purpose of effecting Hajj related remittances to Saudi Arabia, each HGO is permitted to maintain only one account with the AD of its choice. In this respect, AD shall obtain an undertaking from the HGO that it is not maintaining such account with any of the other ADs or any other branch of the same AD for this purpose.

3. With respect to the operations of the designated accounts of HGOs in Pakistan, the ADs will ensure that permissible deposits shall only be the PKR funds received from intending pilgrims by the HGOs. The ADs shall obtain the list of intending pilgrims from concerned HGOs containing at least the below-mentioned details:

a) Name, address and contact details.

b) Passport No. &

c) HGO Hajj Package opted (Amount of Hajj Packages).

4. ADs shall allow remittances into HGO’s account maintained with a specified Saudi bank against the PKR funds collected by HGOs in terms of Para 3 above. However, in case where an HGO has not been able to open/operate account in Saudi Riyal with a Saudi bank, the remittances may be allowed directly to vendors/service providers in Saudi Arabia through FDD/TT/SWIFT. In this context, ADs are advised to ensure the following:

a) The remittances shall only be made for meeting expenses related to housing, Maktab, catering, transportation, guides, subsistence requirements and charges of the Ministry of Hajj in respect of intending pilgrims performing Hajj from the quota allocated to the concerned HGO against authenticated underlying contracts with service providers in Saudi Arabia and submission of following information/documents by the respective HGOs:.

(i) Detail of Hajj Package bifurcating local and foreign expenses per pilgrim.

(ii) Quota Allocation letter by MoRA for respective Hajj season.

(iii) Invoice(s) issued by Saudi vendors in favor of which remittance is being made or FDD is being issued. However, in case final invoices are not available with the HGOs, the Authorized Dealers will ensure submission of related invoices etc. after finalization of the contracts and will allow remittances after due diligence of contracts.

b) The HGOs shall provide per pilgrim per service foreign exchange requirements to ADs for the services mentioned at (a) above in terms of related package. ADs shall make remittances for such services after due verification keeping in view the total quota allocated to the concerned HGO under the Private Hajj Scheme for the concerned Hajj season. However, in any case, total remittances per pilgrim into account of HGO/direct payments to vendors in Saudi Arabia should not exceed 80% of the Hajj Package being offered to the individual pilgrim.

c) In case aggregate remittance against all services by an HGO on any given day exceeds US$ 100,000/-, the concerned HGO will approach Exchange Policy Department, SBP, Karachi along with related details and Form ‘M’ through the concerned AD for prior approval.

d) Head/Principal Offices of ADs shall submit consolidated report in respect of remittance transactions to SBP executed on behalf of HGOs on monthly basis as per the attached format at the email ID: [email protected]. Further, ADs are also advised to maintain complete record of these transactions for SBP’s inspection.

e) It is mandatory for HGOs to repatriate the un-utilized amount to their designated bank accounts in Pakistan after completion of Hajj season. The respective AD shall ensure compliance of the same. Further, HGOs shall have the option to withdraw or transfer remaining PKR funds from these accounts to any other PKR account in Pakistan.

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

Encl: As above.