The Head Offices/Principal Offices of all
Authorised Dealers in Foreign Exchange
Dear
Sirs/Madam
ISSUANCE
OF ATM CARDS TO NON-RESIDENT RUPEE ACCOUNT HOLDERS-
WTIHDRAWAL OF REPORTING REQUIREMENT OF FORM A-7
Attention of the Authorised Dealers is invited to Para 8
of Chapter VIII of the Foreign Exchange Manual (Eighth Edition
–2002) in terms of which non-resident rupee account
holders are required to fill in Form A-7 (Appendix V-7)
in respect of debits/credits to non-resident rupee accounts.
With
a view to facilitating the individuals maintaining non-resident
rupee accounts, it has been decided to allow the banks to
issue ATM Cards as well as Supplementary ATM Cards to the
individual non-resident rupee account holders. The withdrawals
through ATM Cards should, however, only be allowed in Pakistan.
The existing requirement of filling in Form A-7 on account
of all withdrawals in Pak Rupee from the above accounts
for personal expenses would not be applicable to the ATM
transactions. However, the banks would be required to submit
a consolidated statement showing ATM transactions in the
said accounts to the Director, Statistics Department, SBP,
Karachi on monthly basis.