Circulars/Notifications - Exchange Policy Department  
 FE Circular No. 10 of 2008

December 12, 2008

The Heads / Chief Executives of all
Exchange Companies

Dear Sirs/Madam,

Export of Permissible FCYs

Attention of Exchange Companies is invited to our Circular Letter No. 6 of 2005 and other instructions issued from time to time with respect to the export of FCYs other than U.S. Dollars, U.K Pound Sterling, Euro and UAE Dirham.

In this regard Exchange Companies are required to adhere to the following additional requirements with immediate effect.

i)  All the currency carriers must be employees of the Exchange Company.

ii)  It would be compulsory for Exchange Companies to finalize the deal with overseas entity before the shipment of each export consignment. The system generated deal ticket (specifying consignee name, address, contract details, amount, exchange rate etc) must be accompanied with the each request for exporting permissible FCYs.

Other instructions in the matter shall remain the same.

Yours faithfully,

(Syed Samar Hasnain)

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