The Presidents/Chief Executives of

All Authorized Dealers in Foreign Exchange

Dear Sir/Madam,

Amendment in Instructions regarding Foreign Currency Value Account (FCVA)

1. Attention of Authorized Dealers (ADs) is invited to FE Circular No. 2 dated August 5, 2020.
2. In terms of Para 2 (iii) of above Circular, credits to FCVA have been prescribed. In order to facilitate the FCVA holders, it has been decided that Authorized Dealers may allow credit of funds received on account of profit and premature /maturity proceeds of Pakistan Banao Certificates (PBCs) into the PBC holder’s own FCVA.
3. All other instructions on the subject matter shall remain unchanged. ADs are advised to bring the above instructions to the knowledge of all their constituents for meticulous compliance.