Under the instructions, the member FIs should develop well documented Standard Operating Procedures (SOPs) for the eCIB data feeding, compilation, validation, and its reporting.
“It is a great day for us as the State Bank of Pakistan (SBP) Roshan Digital Accounts have achieved the milestone of $500 million,” said Baqir in a ceremony on Thursday, while thanking the Prime Minister for the premier’s vision alongside lauding the Overseas Pakistanis as well.
The SBP said the amendments extended the coverage of full and final taxation regime to dividends and capital gains on shares and mutual funds investments.
“This agreement is subject to the approval of the IMF’s Executive Board. The reviews’ completion would release around $500 million,” read the IMF statement.
Both parties reached the staff-level agreement on the second to fifth reviews of the authorities’ reform program supported by the IMF 39-month Extended Fund Facility (EFF) arrangement for the amount of SDR 4,268 million (about US$6 billion).
The growth in remittances recorded an increase of 19 percent over January 2020. However, remittances remained slightly lower from December 2020 level of $2.4 billion.