KARACHI: The rupee is expected to strengthen marginally against the greenback in the next week due to increased inflows from remittances under the Roshan Digital Account and investments coming into.
State Bank of Pakistan modernizes foreign exchange regulations to facilitate start-ups, fintechs and exports
Karachi, February 10, 2021 (PPI-OT): State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to facilitate Start-ups, Fintechs and Exports. The new policy for equity investment abroad will attract foreign direct investment through the establishment of holding companies by Pakistani fintechs and startups; support exports by facilitating exporters to establish subsidiaries or branch offices outside Pakistan; and, allow resident Pakistanis to acquire sweat equity, amongst other changes to the Foreign Exchange (FX) regulations.
Further changes in the foreign exchange regulations will facilitate portfolio investment in the country including mutual funds, Exchange Traded Funds (ETF) and Real Estate Investment Trust (REIT) Funds through Pak rupee based Roshan Digital Account (RDA) and Special Convertible Rupee Account (SCRA). SBP, after appr