ADs should not be required to verify the bona fides of the importers abroad in case of exports by their clients
Reform ID		F521
Description		Before: Under the current Foreign Exchange Manual, Authorized Dealers (ADs) were required to verify the bona fides of foreign importers before approving export transactions on behalf of their clients. This placed an onerous due-diligence obligation on banks that went far beyond standard AML/CFT requirements, created costly delays in export processing, and acted as a barrier to timely cross-border business activity.
Department		State Bank of Pakistan - SBP
Jurisdiction / Location		Federal - Entire Pakistan
Sector		All Sectors
Start Date
Target Deadline		15-04-2026
Date Enacted
Implementation Status		In Progress
Progress		0%
CCORR Direction
Cost Savings PKR (Mil.)
Evidence