SBP allows remittances for flood relief

With a view to facilitating the stakehol­ders in providing relief and rehabilitation support to the affectees of torrential rains and flash floods across the country, the State Bank of Pakistan has decided to allow foreign remittances on account of donation and charity through home remi­ttance channel with immediate effect. According to an SBP circular, for consumers to business, there is no limit for donations and charity provided the donations and charity are received in designated federal, provincial and local government bank accounts. Also, there is no limit for donations and charity received in bank accounts of NGOs/NPOs/Charities permitted to receive contributions from abroad in accordance with applicable law and policy. For business-to-business, donations and charity have no limit provided these are received in designated federal, provincial and local government bank accounts.