SBP briefs SIFC on steps against US dollar hoarding

The State Bank of Pakistan has carved out a plan to discourage the hoarding of US dollars under which it has made biometric verification mandatory for the purchase of $500 and above from the exchange companies.

“The top notches of the central bank informed the meeting of the SIFC (Special Investment Facilitation Council) Apex Committee’s participants on January 3, 2024, that this is part of the comprehensive reforms in the exchange companies sector,” a top official at SIFC Secretariat said.

Read more: https://www.thenews.com.pk/print/1149287-sbp-briefs-sifc-on-steps-against-us-dollar-hoarding