All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

CONVERTIBLE RUPEE ACCOUNTS OF DIPLOMATIC MISSIONS/DIPLOMATIC OFFICERS, U.N. & ITS ORGANIZATION IN PAKISTAN

As per the instructions contained in paras 8 and 9 – Chapter XVI of the Foreign Exchange Manual (7^th Edition 1992), the convertible rupee accounts of diplomatic missions/officers, United Nations and its Organizations can be debited for outward remittances, local disbursements and credit to any other convertible/Non-convertible rupee account. The said rules do not permit the banks maintaining the convertible accounts to issue travelers cheques expressed in foreign currency or foreign currency notes by debit to these accounts.

2. It has since been decided that in case the Diplomatic Missions, Diplomats, United Nations Organizations and International Organizations maintaining convertible rupee accounts so desire, the Authorized Dealers may issue foreign currency travelers cheques/foreign currency notes by debit to the respective convertible rupee accounts.

3. As a consequence of the above, following may be added as item (v) – in para 8 (a) – page 120 – of the Foreign Exchange Manual (7^th Edition, 1992):-

"(v) Issuance of foreign currency travelers cheques and foreign currency notes."

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