Fintech & Regulatory Policy
SBP Issues EPD Circular Letter No. 06 of 2026: Overhauling Foreign Exchange Manual Chapter 12 to Streamline ESFCA Outward Remittances, Form R Exemptions, and 24-Hour Settlement for IT Exporters in Pakistan
The State Bank of Pakistan (SBP) has amended Paragraph 12 of Chapter 12 of the Foreign Exchange Manual via EPD Circular Letter No. 06 of 2026, abolishing per-transaction Form R submissions, mandating a 24-hour settlement SLA for inward IT receipts, and standardizing outward remittances from Exporters' Special Foreign Currency Accounts (ESFCAs).
