SBP allows remittances for flood relief
KARACHI: With a view to facilitating the stakeholders in providing relief and rehabilitation support to the affectees of torrential rains and flash floods across the country, the State Bank of Pakistan has decided to allow foreign remittances on account of donation and charity through home remittance channel with immediate effect.
According to an SBP circular, for consumers to business, there is no limit for donations and charity provided the donations and charity are received in designated federal, provincial and local government bank accounts.
Also, there is no limit for donations and charity received in bank accounts of NGOs/NPOs/Charities permitted to receive contributions from abroad in accordance with applicable law and policy.
For business-to-business, donations and charity have no limit provided these are received in designated federal, provincial and local government bank accounts.
Donations and charity received in bank accounts of NGOs/NPOs/Charities were permitted to receive contributions from abroad in accordance with applicable law and policy, said the SBP circular.
Published in Dawn, September 15th, 2022
