Eliminate The requirement that authorized dealers must include the market value of their clients’ investments when they report the transactions on their clients’ (Foreign Currency Value Accounts (FCVA) and Non-resident Rupee Value Accounts (NRVA) – allowed to non-resident Pakistanis/Pakistan origin card holders and resident Pakistanis with declared foreign assets
Reform IDF526
DescriptionAuthorized Dealers were required to include the current market value of clients' investments when reporting monthly transactions on Foreign Currency Value Accounts (FCVA) and Non-resident Rupee Value Accounts (NRVA). This data was not readily available to banks, required additional research and computation, and was obtainable through other sources such as stock exchanges and mutual fund platforms, making the reporting obligation unnecessarily burdensome.
DepartmentState Bank of Pakistan - SBP
Jurisdiction / LocationFederal - Entire Pakistan
SectorAll Sectors
Start Date
Target Deadline15-04-2026
Date Enacted
Implementation StatusIn Progress
Progress 0%
CCORR Direction
Cost Savings PKR (Mil.)
Evidence