Home remittances: Transaction limit for reimbursement of TT charges revised

In order to facilitate banks, the State Bank of Pakistan (SBP) has announced reimbursement of 'SAR 10' on home remittance transaction equal to and above $ 100, but less than $200. Earlier, under the reimbursement of TT Charges Scheme, banks were allowed to claim 'SAR 20' on equal and above US $200 transactions.

However, now the home remittances transaction limit for reimbursement of TT Charges Scheme has been revised.

As per fresh directives, the amount of home remittance transaction equal to and above USD 100 but less than USD 200 (or equivalent in other currencies) will be reimbursed at 'SAR 10'.

In addition, the amount of home remittance transaction equal to and above USD 200 (or equivalent in other currencies) will continue to be reimbursed at 'SAR 20'. All other instructions on the subject shall remain unchanged, the SBP said.