Regulatory Alerts2026-01-15 | EPD Circular Letter No. 02Added · Updated
Amendment in Instructions Related to Business of Exchange Companies
The document amends Paragraph 12, Chapter 7 of the Regulatory Framework for Exchange Companies by adding sub-paragraph (h). This addition authorizes Exchange Companies to disburse home remittances digitally through Raast into beneficiary accounts or wallets held with Banks, Microfinance Banks, or Electronic Money Institutions, provided they obtain prior approval from the Exchange Policy Department and complete Raast onboarding requirements. Exchange Companies are required to ensure compliance with these new instructions.
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EPD Circular Letter No. 02 of 2026
Amendment in Instructions Related to Business of Exchange Companies
January 15, 2026
3541
The Chief Executives,
All Exchange Companies.
Dear Sir / Madam,
Amendment in Instructions Related to Business of Exchange Companies
Attention of Exchange Companies (ECs) is invited towards the instructions contained in Para 12, Chapter 7 of Regulatory Framework for Exchange Companies (RFEC).
In order to promote cashless economy and facilitate customers, it has been decided to add following instructions as sub-para (h) in the above-mentioned para of RFEC:
“h) After obtaining prior approval from Exchange Policy Department and completing Raast onboarding requirements, the Company may disburse home remittances in beneficiary’s accounts/wallets maintained with Banks/MFBs/EMIs digitally through Raast.”
ECs are advised to bring the above instructions in the knowledge of all concerned for compliance.
Yours sincerely,
Dr. Asif Ali Director
Home — Circulars — EPD Circular Letter No. 02 of 2026
Amendment in Instructions Related to Business of Exchange Companies
January 15, 2026
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