The Presidents/Chief Executive Officers
All Islamic Banks and
All Conventional Banks having Islamic Banking Branches

Dear Sir,

Shariah Compliant Solutions for Foreign Bill Discounting

Please refer to IBD Circular No. 2 of 2014 dated April 03, 2014 read with IBD Circular Letter No. 2 of 2014 dated April 14, 2014 wherein instructions on the subject were issued.

2. In this regard, the prescribed minimum limit of normal ready transactions referred in clause 2 of IBD Circular Letter No. 2 of 2014 dated April 14, 2014, has been lowered from USD 50,000 to USD 25,000 or equivalent in other foreign currencies with immediate effect.

3. Other instructions contained in the said circular and circular letter shall remain the same.

4. Please acknowledge receipt.