Regulatory Alerts2026-01-15 | EPD Circular Letter No. 02Amendment in Instructions Related to Business of Exchange Companies
The Exchange Policy Department has amended the Regulatory Framework for Exchange Companies to authorize digital home remittance disbursements via Raast. Exchange companies must secure prior departmental approval and complete Raast onboarding before crediting beneficiary accounts, microfinance banks, or electronic money institutions. All exchange companies are directed to disseminate these updated instructions to relevant personnel for immediate operational compliance.
Circulars/Notifications - Exchange Policy Department
EPD Circular Letter No. 02 of 2026
January 15, 2026
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 truly,
-sd-
(Dr. Asif Ali) Director