All
Authorised Dealers
in
Foreign Exchange,
BACK
TO BACK REMITTANCE
Attention of Authorised Dealers is invited to F.E. Circular
No. 24 of October 14, 1999 regarding the captioned subject.
2.
It has now been decided that the Authorised Dealers may
be allowed to issue foreign currency travellers’ cheques
to foreign nationals and Pakistani nationals (resident and
non-resident) against surrendering of an equivalent amount
of foreign exchange in cash. Hence, following para may be
added as Para 48, Chapter XVII of Foreign Exchange Manual
(Eighth Edition, 2002).
‘Authorized
Dealers may issue foreign currency travellers’ cheques
to foreign nationals and Pakistani nationals (residents
and non-residents) for travel purpose only upto the limit
prescribed under para 10(f) Chapter XVIII of the Foreign
Exchange Manual (Eighth Edition) against surrendering of
an equivalent amount of foreign exchange in cash’.