SBP introduces new category of foreign currency account

SBP has introduced a new category of foreign currency account titled Foreign Currency Value Account (FCVA) to facilitate Pakistanis for investment in foreign currency denominated govt. registered debt securities. Authorized Dealers may open “Foreign Currency Value Account” of a non-resident individual Pakistani and a resident individual Pakistani who have duly declared assets held abroad as per wealth statement declared in latest tax return with FBR.

7/8/2020