Regulatory Alerts2025-06-30 | EPD Circular Letter No. 04 of 2025Added · Updated
Operational Instructions for Reimbursement of TT Charges Incentive Scheme (TTCIS)
The State Bank of Pakistan establishes operational rules for the Reimbursement of TT Charges Incentive Scheme, allowing Authorized Dealers, Microfinance Banks, and Exchange Companies to claim reimbursement for fee-free home remittance transactions. Eligibility requires transactions to be at least USD 200, with a limit of five free transactions per month from a single remitter to the same beneficiary, and mandates that Exchange Companies surrender 100% of foreign exchange in the interbank market on the same day. Financial institutions must submit transactional data via the SBP Data Acquisition Portal and claims through the Regulatory Approval System by the 20th day of the following month, supported by internal audit certificates verifying compliance with anti-splitting and fee-free conditions.