The Presidents/Chief Executives

Authorized Dealers in Foreign Exchange

Dear Sir / Madam,

Regulatory Frameworks for Diversified Payment Rights (DPRs)

In order to facilitate Authorized Dealers (ADs) in raising long-term funds from outside Pakistan using foreign exchange future flows, it has been decided to amend Chapter 10 and Chapter 19 of the Foreign Exchange Manual (FEM) by introducing following new paras:

1. Para 21 in Chapter 10: Framework Governing International Payment Orders (IPOs) (enclosed as Annexure – I).
2. Para 9 (iv-A) in Chapter 19: Foreign Exchange Future Flow Transactions Framework for Long Term Fund-Raising by Authorized Dealers (enclosed as Annexure – II).