Circulars/Notifications - Exchange Policy Department  
 EPD Circular Letter No. 19 of 2019

December 31, 2019


The Chief Executives of all
Exchange Companies and
Exchange Companies of B Category


Dear Sir/Madam,

Amendments in Exchange Companies Manual, 2018 - AML CFT Regulations

1.    Attention of Exchange Companies and Exchange Companies of B Category is invited to Exchange Companies Manual, 2018.  

2.    In terms of powers conferred on State Bank of Pakistan under Section 3AA of Foreign Exchange Regulation Act, 1947, it has been decided to amend AML/CFT related regulations in Exchange Companies Manual, 2018 in order to further align them with the Financial Action Task Force (FATF) Recommendations and to bring clarity in the relevant instructions.

3.     The amended instructions are given in the Annexure to this circular letter.

4.     All other terms and conditions on the subject shall remain unchanged.

5.     Failure to comply with these instructions shall attract regulatory action under the relevant provisions of the Foreign Exchange Regulation Act, 1947.

 

Encl:
i. Annexure - I
ii. Updated Exchange Companies Manual.

 

 

Yours truly,

Sd/-

(Arshad Mehmood Bhatti)
Director


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