The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Foreign Currency Accounts and Trade Loans under
of Authorized Dealers is invited to Para-6 of Chapter VI
of F.E. Manual (Eighth Edition-2002) and other instructions
issued on the subject from time to time.
this regard, it has been decided that Authorized Dealers
may open foreign currency accounts and extend trade loans
under FE-25 Scheme in US Dollar (USD), Pound Sterling (GBP),
Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), UAE
Dirham (AED), Saudi Riyal (SAR), Chinese Yuan (CNY), Swiss
Franc (CHF) and Turkish Lira (TRY).
to EPD Circular Letter No. 07/EPP.16 (326) NFCA-2002 dated
September 12, 2002, it is advised that the interbank placements
and interbank SWAPs or any other source of foreign currency
liquidity that is permitted under SBP Rules / Regulations
can be used to extend trade loans in the above foreign currencies.
However, currency of the trade loan should be the same as
that of the underlying LC/ Firm Trade Contract.
above instructions are applicable with immediate effect.
All other instructions on the subject shall remain unchanged..
Dealers are advised to bring the above to the notice of
all their constituents and ensure meticulous compliance.