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9 July, 2018 00:00 00 AM
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Pakistan central bank tightens currency movement

Xinhua

The State Bank of Pakistan (SBP) has taken stringent measures to tighten the currency movement within the country amid depreciating national currency following the grey-listing of Pakistan by the Financial Action Task Force (FATF), reports Xinhua from Islamabad.

The central bank issued a detailed set of instructions Saturday to all the money exchange companies, thereby instructing the money exchangers to help the bank keep a strict vigilance over the currency movements.

According to the State Bank’s statement, the money exchange companies will have to properly document and record the purpose of the currency movement after necessary authorization in its system on the real time basis by its head office.

However, the local exchange companies have voiced their concerns on the expected impact of the requirement by the central bank. They told the local media outlets on Saturday that the requirement

will negatively affect their business.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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