| |
|
 |
| For business information, annual reports, laws, ordinances, regulations and articles. |
|
|
|
031110
STATE BANK OF PAKISTAN FOREIGN EXCHANGE DEPARTMENT
F.E. Circular No. 19
November 10, 2003
The Head Offices/Principal Offices of all
Authorised Dealers in Foreign Exchange
Dear Sir/Madam,
Renaming of Exchange Policy Department, SBPBSC (Bank)
Please refer to FE Circular No. 4 dated 15-02-2002 in terms
of which functions of Exchange Policy Department were bifurcated as under:
i) All policy and investment related issues would be dealt with by the Exchange
Policy Department, State Bank of Pakistan, I. I. Chundrigar Road, Karachi.
ii) All operational matters pertaining to foreign exchange would be directly
handled by the respective Area Field Offices of the SBP Banking Services Corporation
(Subsidiary).
iii) Foreign Exchange issues other than those mentioned in paras (i) and (ii)
above including general matters may be referred to the respective Area field
offices of SBP
Banking Services Corporation or Director, Exchange Policy Department, SBP Banking
Services Corporation, Head Office, Subsidiary House, I. I. Chundrigar Road,
Karachi.
It is further advised that due to the nature of the operations the Exchange
Policy Department, SBP Banking Services Corporation, Head Office in Karachi
and the Field Offices at various stations has been renamed as Foreign Exchange
Operations Department (FEOD).
In the wake of recent liberalization drive of the State Bank, and a paradigm
shift in SBP’s role from control to guidance and monitoring culture, the powers
to make remittances on account of various foreign exchange transactions have
accordingly been delegated to Authorised Dealers. The renamed “Foreign Exchange
Operations Department” has various sections to take care of operational matters.
All operational issues pertaining to the following areas should be referred
to FEOD of SBPBSC (Bank) field offices at various stations:
(i) Export & Import
(ii) Export Outstanding / Overdue
(iii) Export Verification Claims/ Performance
(iv) Commercial Remittance (Insurance, Shipping & Airlines)
(v) Oil & Shipping Issues
(vi) Commission Related Remittances
(vii) Private Remittance
(viii) Submission of Returns & Statistical Data
(ix) Money Changers’ Affairs
(x) Exchange Allocations & Releases
(xi) All other operational matters
As a consequence of the above, the Exchange Policy Department of State Bank
primarily deals only with the policy issues and not the daily routine operations
and reporting.
In case of any inquiry regarding the policy and its interpretation, EPD officials
will be available, while operational issues in the respective area mentioned
above may be referred to FEOD at SBPBSC (Bank) at various field offices. All
sorts of suggestions/proposals from the stakeholders for revision of existing
regulations or for introducing new rules/regulations may be forwarded to the
Director, Exchange Policy Department, SBP, Karachi. The persons requiring any
clarification/guidance may write to the same address or through our help desk
situated at EPD SBP or at epd.helpdesk@sbp.org.pk.
Please bring the above to the notice of your constituents.
Yours faithfully,
(M. R. MEHKARI)
Director
|
|
|
|
|
|
| Home | About Us | Contact | Information Resources |