|
|
 |
|
|
EXCHANGE POLICY DEPARTMENT - 2008 |
|
|
| EPD
Circular Letter No. 10 |
November
10, 2008 |
|
|
| Compliance
of SBP’s Rules & Regulations by
the Exchange Companies |
|
|
|
|
|
| Attention
of Exchange Companies is invited to SBP instructions
issued from time to time on the minimum criteria
to be observed with respect to proper documentation
of transactions, maintenance of proper AML / KYC
standards, reporting of business transactions and
strict compliance to all SBP rules & regulations. |
|
| It
has, however, been observed that despite reiterating
the requirement of ensuring strict compliance to
the SBP Rules & Regulations, the level of compliance
on certain occasions was found to be unsatisfactory.
This state of affairs has been viewed very seriously
and the Exchange Companies, in their own interest,
are advised to maintain their compliance status
to the requisite levels. |
|
| It
is reiterated that in case, any Exchange Company
is found involved in any violation of SBP Rules
& Regulations in general and any undocumented
transactions in particular, strict action leading
towards suspension or cancellation of the license
will be taken against the company involved. |
|
 |
|
|
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
| TV COMMERCIALS |
 |
|
