Fintech & Regulations
SBP Overhauls IT Export Regulations: Abolishes Form 'R' Under $25k, Expands ESFCA Dollar Retention to 50%, and Enforces 24-Hour Settlement
The State Bank of Pakistan (SBP) has unveiled a comprehensive deregulation package for IT exporters and freelancers, eliminating per-transaction Form 'R' requirements under $25,000, expanding foreign currency ESFCA retention to 50%, and enforcing a strict 24-hour inward remittance turnaround for authorized dealer banks.
