The State Bank of Pakistan (SBP) has “modernized” its foreign exchange (FX) rules, as the central bank seeks to attract foreign investment, a statement said on Thursday.
The decision is a bid:
- Attract foreign investment in fantics and startups through hosting companies,
- Assist exporters to establish overseas presence to promote Pakistani products. And
- Allow residents to earn sweat equity.
The SBP has allowed the trading of units of funds listed on the stock exchange through special convertible rupee accounts (SCRA) and the PKR version of Roshan Digital Account.
“These account holders are also required to invest in units of mutual funds registered as open and scheme (OES) under Asset Management Companies (AMCs) licensed by the SECP,” the statement said. Is allowed. “
In addition, the SBP has directed private funds established by private securities management companies licensed by the Securities and Exchange Commission of Pakistan to operate their funds to non-state resident investors for issuing units of their funds. Private equity and venture capital fund management services are allowed.