SLR requirement for exchange firms reduced
Business
May 21, 2021
KARACHI: The State Bank of Pakistan (SBP) has revised the Statutory Liquidity Reserve (SLR) requirement of exchange companies from 25 percent to 15 percent of their capital, a statement said on Thursday.
The enhanced liquidity with exchange companies would enable them to further channelise home remittances and foreign exchange.
During the year ended June 2020, the exchange firms, through their tie up arrangements abroad, have channelised home remittances of $1.44 billion, while this figure stands at $1.67 billion for July-April of the current fiscal year.
The related instructions contained in the Exchange Companies Manual stand replaced, as under:
SLR requirement for exchange firms reduced
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SLR for exchange companies reduced to 15pc - Newspaper
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SBP Revises SLR Level for Exchange Companies to Attract FX and Remittances
The State Bank of Pakistan (SBP) has revised the Statutory Liquidity Reserve (SLR) requirement of the Exchange Companies from 25 percent to 15 percent of their capital.
The enhanced liquidity with the Exchange Companies will enable them to channel the home remittances and foreign exchange further.
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This regulatory intervention of the SBP will provide increased liquidity to the Exchange Companies to enable them to play their role in increasing the remittances flow, and the public will be facilitated in the timely and conveniently receiving of home remittances from more than 1,200 outlets of the Exchange Companies across Pakistan.