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SBP Made Biometric Verification Necessary For Foreign Currency Transactions

admin-augaf by admin-augaf
October 23, 2021
in Business
Reading Time: 2 mins read
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SBP Made Biometric Verification Necessary For Foreign Currency Transactions

SBP Made Biometric Verification Necessary For Foreign Currency Transactions

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Karachi October 23 2021: Exchange Companies and Exchange Companies of “B” Category may conduct the sale at foreign currency and outward transactions, as per prescribed limits, on the biometric verification receipt in original generated through the “NADRA e- Sahulat” service up to November 05, 2021.

However, EC shall verify the genuineness of system generated receipt from the website of NADRA e-Sahulat and keep the copies of verifications along with other required) documents on their record. After November 5, 2021, ECs and ECs-B shall use the Android based application developed by NADRA for biometric verification.


A L S O || R E A D

Online Banking Transactions Registered Growth Of 31 Percent In Fiscal Year 2021 : SBP


Earlier all Exchange Companies and Exchange Companies of ‘B’ Category have been instructed to make necessary arrangements, Including procurement of hardware & software and establishing connectivity with NADAA latest by October 21, 2021, while the instructions are applicable with effect from October 22, 2021.

Nevertheless, Exchange Companies and Exchange Companies of ‘B’ Category shall ensure to develop the integrated biometric verification system with NADRA as advised in the above-mentioned Circular Letter latest by June 30, 2022.

admin-augaf

admin-augaf

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