The Presidents / Chief Executive Officers
All Banks

Dear Sirs / Madam,

Revision in Timelines of Batches for Payment and Settlement Of Home Remittance Transactions under Pakistan Remittance Initiative (PRI)

Please refer to PSD Circular No.01 dated August 22, 2009 regarding Payment and Settlement of Home Remittance Transactions under Pakistan Remittance Initiative (PRI).

Keeping in view the problems faced by banks in crediting beneficiary accounts on the same day, particularly, for the second batch due to time and resource constraints, the timelines for both the batches have been revised. The revised Annexure-A of reference circular is attached.

New timelines will be observed from January 04, 2010. All other instructions on the subject shall, however, remain unchanged.

Please acknowledge the receipt.