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Business & Finance

ePRC and S-PRCs: ADs told to ensure automated issuance, verification by 29th

  • SBP invites attention of ADs to Paras 1 & 2, Chapter 10 of the Foreign Exchange Manual
Published August 6, 2022

KARACHI: The State Bank of Pakistan (SBP) has advised the Authorized Dealers (ADs) to ensure implementation of digital issuance and verification of Electronic Proceeds Realization Certificate (ePRC) and the Statement of Proceeds Realization Certificates (S-PRCs) by August 29, 2022.

In this regard, the SBP has invited attention of Authorized Dealers (ADs) to Paras 1 & 2, Chapter 10 of the Foreign Exchange Manual, which inter alia, sets out instructions relating to receipt of remittances from abroad.

In order to provide convenience to the banking customers, ADs were advised to digitalize the process of the issuance and verification of the Proceeds Realization Certificates (PRCs) on account of receipt of remittances from abroad through ADs.

Copyright Business Recorder, 2022

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