Circulars/Notifications - Exchange Policy Department  
EPD Circular Letter No. 10 / 1(95)EC-2008  

November 10, 2008

The Chief Executives of
All Exchange Companies

Dear Sirs / Madam,

Compliance of SBP’s Rules & Regulations by the Exchange Companies

Attention of Exchange Companies is invited to SBP instructions issued from time to time on the minimum criteria to be observed with respect to proper documentation of transactions, maintenance of proper AML / KYC standards, reporting of business transactions and strict compliance to all SBP rules & regulations.

It has, however, been observed that despite reiterating the requirement of ensuring strict compliance to the SBP Rules & Regulations, the level of compliance on certain occasions was found to be unsatisfactory. This state of affairs has been viewed very seriously and the Exchange Companies, in their own interest, are advised to maintain their compliance status to the requisite levels.

It is reiterated that in case, any Exchange Company is found involved in any violation of SBP Rules & Regulations in general and any undocumented transactions in particular, strict action leading towards suspension or cancellation of the license will be taken against the company involved.


Yours faithfully,

(Syed Samar Hasnain)

About SBP
Economic Data
Press Releases
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Contact us
What's New?
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Rupey ko Pehchano
Zahid Husain Memorial Lecture
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.