All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

EXCHANGE RISK COVERAGE SCHEME

Attention of Authorized Dealers is invited to F.E. Circular No.24 dated the 29^th March, 1990 on the above subject.

2. It has since been decided that henceforward the requests for change of the bank will be considered by us in cases of extreme difficulties where the borrowers due to unavoidable reasons are not in a position to get the matters handled by the bank originally nominated by them provided we are satisfied with the reasons tendered for change of the bank. The permissions for change of the bank will be subject to such conditions as State Bank of Pakistan may impose.

3. A reference is also invited to F.E. Circular No.19 dated the 20^th February, 1994. The words "para 4 (iii) " appearing in second line of para 2 of the circular may be changed to "para 4 (c)".

4. Please being the above to the notice of your constituents.

View Update