Pakistan eases statutory liquidity reserve requirement for exchange companies
It will help them address cash flow issues SAMAA | Bilal Hussain - Posted: May 20, 2021 | Last Updated: 4 hours ago SAMAA | Bilal Hussain Posted: May 20, 2021 | Last Updated: 4 hours ago
A currency trader counts Pakistani Rupee notes as he prepares an exchange of U.S dollars in Islamabad, Pakistan December 11, 2017. REUTERS/Caren Firouz
The State Bank of Pakistan has revised the Statutory Liquidity Reserve requirement for exchange companies, reducing it from 25% to 15% of their capital.
It was mandatory for exchange companies to put a quarter of the paid-up capital, the worth of their business, with the central bank to settle things smoothly in case they defaulted.