Regulatory Alerts2026-05-25 | FE Circular No. 03 of 2026Added · Updated
Implementation of Non-Resident Shareholding Registration System
The State Bank of Pakistan requires Authorized Dealers to report non-resident shareholding, dividend, and disinvestment transactions monthly via the Data Acquisition Portal by the 5th working day of the following month. Legacy data for dividend and disinvestment transactions must be reported in three phases, with deadlines ranging from four months to one year after the circular's issuance, followed by a compliance report within 15 days. Authorized Dealers are responsible for ensuring data accuracy and notifying constituents of these new reporting obligations.
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FE Circular No. 03
Implementation of Non-Resident Shareholding Registration System
May 25, 2026
35647
The Presidents/Chief Executives of all Authorized Dealers in Foreign Exchange Dear Sir / Madam,
Implementation of Non-Resident Shareholding Registration System
In pursuance of its strategic goal to enhance efficiency and effectiveness of the financial system, the State Bank of Pakistan (SBP) has developed “Non-Resident Shareholding Registration System (NSRS)” to streamline and automate the record keeping of registration of non-residents’ shareholding in locally incorporated companies, and subsequent repatriation of dividend/ disinvestment proceeds. 2. The said reporting mechanism contains the following four Data File Structures (DFS), each of which offers a different functionality related to foreign inward investment and subsequent repatriation transactions carried out by Authorized Dealers (ADs): Designation of Bank Shares Issuance Shares Dividend Repatriation Shares Disinvestment 3. In light of the above, ADs are henceforth required to report, on a monthly basis, all designation and share registration transactions undertaken by them in terms of FE Circular No. 2 of 2026, and all dividend and disinvestment transactions carried out by them through the respective DFS, latest by 5th working day of the following month through Data Acquisition Portal (DAP). First such reporting is to be carried out for the month of July 2026 by 5th working day of August 2026. 4. With regard to legacy data for dividend and disinvestment transactions carried out by ADs, the same shall be reported by ADs to SBP at nsrs.data@sbp.org.pk in three phases, as per the following timelines: Phase I: From January 1, 2021 to June 30, 2026, within four (04) months of issuance of this circular. Phase II: From January 1, 2016 to December 31, 2020, within six (06) months of issuance of this circular. Phase III: From January 1, 2006 to December 31, 2015, within one (01) year of issuance of this circular. After the conclusion of Phase-III, the ADs shall submit a compliance report within 15 days, duly signed by their Group Head Compliance, confirming that the data submitted in the three phases is complete in all respects and is free of errors. 5. It shall be the responsibility of relevant Group Head and Group Head Compliance of each AD to ensure that the data is correct and submitted strictly in line with the afore-mentioned instructions within the stipulated timelines. 6. ADs are advised to bring the contents of the above instructions to the notice of all their constituents and ensure meticulous compliance.
Yours sincerely,
Dr. Asif Ali Director
Home — Circulars — FE Circular No. 03
Implementation of Non-Resident Shareholding Registration System
May 25, 2026