RegAlert2026-06-19 | IFPD Circular Letter No. 04Added · Updated
Shariah Compliant Solutions for Foreign Bill Discounting
The Islamic Finance Policy Department issued Circular Letter No. 04 of 2026 to update regulatory requirements for foreign bill discounting. The directive mandates that the prescribed minimum limit for normal ready transactions, originally established in 2015, must now be applied at the bank level with immediate effect. All other existing instructions regarding this matter remain unchanged and continue to apply.
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Circulars/Notifications - Islamic Finance Policy Department
IFPD Circular Letter No. 04 of 2026
June 19, 2026
The Presidents/Chief Executives, All Conventional Banks having Islamic Banking Branches.
Dear Sir/Madam,
Shariah Compliant Solutions for Foreign Bill Discounting
Please refer to IBD Circular Letter No. 01 of 2015 dated June 30, 2015 wherein instructions on the subject were issued.
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In this regard, the prescribed minimum limit of normal ready transactions referred to in clause 2 of the aforesaid circular letter shall be applicable at the bank level, with immediate effect.
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Other instructions on the matter shall remain the same.
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Please acknowledge receipt.
Yours truly,
Sd/-
(Dr. Zahid Ur Rehman Khokher)
Director
Source: State Bank of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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