ISLAMABAD — The State Bank of Pakistan has announced a relaxation for the banking industry, making it simpler to remit payments overseas.
According to a circular, banks can now send salaries, fees, and other payments to overseas-based directors, chairpersons, Sharia advisers, and scholars without first obtaining clearance from the State Bank’s Foreign Exchange Department.
The new facility allows authorized dealers to handle transactions when all relevant documentation is completed, expediting international payments for regulated institutions.