The Presidents/Chief Executives of all
Authorized Dealers in Foreign Exchange
Monthly Reporting of Foreign Currency Deposits & Borrowings
in Foreign Currency by Authorized Dealers
Attention of Authorized Dealers is invited to EPD Circular Letter No. 03 dated February 23, 2016 requiring them to maintain record of transactions carried out through foreign currency accounts and different provisions of the FE Manual-2016 in terms of which Authorized Dealers are required to report foreign currency transactions (deposits, utilization and borrowings, etc.) to State Bank of Pakistan.
2. In order to integrate the reporting of various statements to different departments of the SBP, it has now been decided that data related to foreign currency accounts and that reported through various statements will be submitted to the Director, Statistics & DWH Department at [email protected] in electronic form through the attached Data File Structure (DFS) latest by 7th of the following month for each reference month. Authorized Dealers are, therefore, advised to develop their systems according to the DFS and start reporting to Statistics & DWH Department from the month of April, 2017 onwards.
3. Existing reporting to different departments of SBP would, however, continue until further instructions on the subject.
4. It may also be noted that in case of any misreporting/incomplete/discrepant reporting by an Authorized Dealer, appropriate regulatory action shall be taken against the bank under relevant rules and regulations.
5. In case of any query, please contact Mian Muhammad Irfan, Joint Director at 021-3245-3684 or email [email protected]
6. Authorized Dealers are advised to bring the same to the notice of all their constituents and ensure meticulous compliance.
Encl: As above