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Tuesday November 30, 2021

State Bank updates exchange manual

October 17, 2020

KARACHI: The State Bank of Pakistan (SBP) on Friday released an updated Exchange Companies Manual by incorporating references related to regulations, guidelines and notifications issued by it and the government from time-to-time on money laundering and terrorism financing, a circular said.

The SBP amended the title of Chapter 6 and para 20 of Chapter 8 of the Exchange Companies Manual as “Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing Regulations”.

“Exchange Companies (ECs) and Exchange Companies of ‘B’ Category (ECs – B) shall comply with the Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing Regulations issued by the SBP on September 30, 2020 under the powers conferred by Section 6A (2) of the Anti-Money Laundering Act, 2010 (Act),” the SBP said.