The Chief Executive of All

Exchange Companies

Exchange Companies of ‘B’ Category

Dear Sir/Madam,

Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF) Regulations

1. Attention of Exchange Companies and Exchange Companies of ‘B’ Category is invited to Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF) Regulations issued by the State Bank of Pakistan vide BPRD Circular No. 05 of 2020 dated September 30, 2020.
2. In this connection, the Exchange Companies Manual is updated by incorporating following changes:
   1. Title of Chapter 6 and Para 20 of Chapter 8 is amended as “Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF) Regulations”.
   2. All Paras and sub paras along with relevant Annexures of Chapter 6 stand deleted. Chapter 6 has been revised to incorporate references to related regulations, guidelines, Notifications issued by State Bank and the
      Federal Government, under Anti-Money Laundering Act, 2010.
   3. Instructions contained in existing Para 2 A of Chapter 6, regarding inland currency transportation and related Annexure, have been shifted to Chapter 3 (for Exchange Companies) and Chapter 8 (for Exchange Companies of ‘B’ category) and the relevant Annexure has been re-numbered as Annexure 2AA.
3. All other terms and conditions on the subject shall remain unchanged.
4. You are advised to bring the above to the notice of all your constituents.