Submission of FCY Cross Border Payments Transfers Cases via Regulatory Approval System (RAS)

Banks and Islamic Banks are required to submit documentation for Local EUR and GBP Settlement account deposits and withdrawals through the Regulatory Approval System (RAS) effective from December 1, 2025. This mandate extends the existing RAS functionality, previously limited to US Dollar cases, to include Euro and British Pound transactions. Consequently, the submission of physical cases for these specific transactions is discontinued, while all other existing instructions remain unchanged.

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TOD Circular Letter No. 01

Submission of FCY Cross Border Payments / Transfers Cases via Regulatory Approval System (RAS)

November 25, 2025

4602

The Presidents / Chief Executives,

All Banks (Authorized Dealers) / All Islamic Banks in Foreign Exchange

Dear Sir/Madam,

Submission of FCY Cross Border Payments / Transfers Cases via Regulatory Approval System (RAS)

Please refer to Treasury Operations Department Circular Letter No. 1 dated May 13, 2024 regarding submission of required documentation for ‘Local US Dollar Instrument Collection and Settlement Account Deposit and withdrawals cases’ through Regulatory Approval System (RAS).

In this regard, functionality for submission of documents for Local EUR and GBP Settlement account deposits and withdrawals alongside US Dollar has now been enabled in RAS.

Banks are advised to submit documents for Local EUR and GBP Settlement account deposits and withdrawals cases to this Department through Regulatory Approval System effective from 1st December 2025. Consequently, the submission of physical cases will be discontinued.

All other instructions on the subject shall remain the same.

Please acknowledge receipt at Reports.TOD@sbp.org.pk

Yours sincerely,

Aniq Aziz Director

Home — Circulars — TOD Circular Letter No. 01

Submission of FCY Cross Border Payments / Transfers Cases via Regulatory Approval System (RAS)

November 25, 2025

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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