Regulatory Alerts2026-03-24 | EPD Circular Letter No. 05Instructions on Foreign Currency and Non-Resident Rupee Accounts
The Exchange Policy Department has broadened eligibility for Authorized Dealers to open, operate, and maintain Foreign Currency Value Accounts (FCVA), Non-Resident Pakistani Rupee Value Accounts (NRVA), Foreign Currency Business Value Accounts (FCBVA), and Non-Resident Rupee Business Value Accounts (NRBVA). All natural and juridical persons classified as non-residents under the Income Tax Ordinance, 2001 are now permitted to hold these accounts. Authorized Dealers must implement the revised Foreign Exchange Manual provisions, adhere to applicable AML/CFT/CPF regulations, and notify their constituents accordingly.
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