In Foreign Exchange,
RISK COVERAGE SCHEME
of Authorized Dealers is invited to F.E. Circular No.24
dated the 29th 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 20th February, 1994. The words
"para 4 (iii) " appearing in second line of para
2 of the circular may be changed to "para 4 (c)".
being the above to the notice of your constituents.