Karachi August 25 2022: Dr. Asif Ali has assumed charge as Director, Exchange Policy Department, State Bank of Pakistan, Karachi with effect from close of business August 17, 2022, SBP revealed on Thursday.
All correspondence in respect of issues relating to Exchange Policy Department may, therefore, be addressed accordingly says State Bank of Pakistan.
Exchange Policy Department (EPD), SBP, BSC (BANK), is an important department of the State Bank of Pakistan, Banking Services Corporation (Bank), Head Office Karachi. The business process of this Department is carried out in dual direction. On the one hand this Department has to guide/monitor the foreign exchange operations taking place at sixteen field offices and on the other hand look after the day-to-day operations of the Authorized Dealers of Karachi region. Both the above tasks are completed under the umbrella of foreign Exchange Regulation Act, 1947(FER Act, 1947).
This Department also acts as a field office as other 16 field offices and discharge its duties under the instructions contained in the Booklet of instructions (third Edition1989). The fourth Edition of Booklet of instruction is under compilation in the Policy Division of EPD SBP, Karachi.
The work of the Department is operational nature for which Foreign exchange offices are set up at 16 field offices in major cities of Pakistan. Administratively, the Department is divided into four Divisions, out of which one is looked after by a Joint Director and remaining three by Junior Joint Directors. These Divisions are again divided into eight units, which are headed by Assistant Directors
