The document summarizes key regulations on imports and exports according to the State Bank of Pakistan (SBP). It outlines rules for importing goods such as requiring an NTN/CNIC number and opening letters of credit for up to 12-24 months. It also details permitted payments for imports and export procedures such as declaring exports on EFE forms and realizing full export proceeds within 6 months. The document provides guidance to authorized dealers on following SBP rules for foreign exchange transactions related to imports and exports.
A Quick Guide to Action on Bouncing of ChequeAnil Chawla
Bouncing of a cheque invites criminal prosecution under section 138 of The Negotiable Instruments Act, 1881 in India. This Guide is meant to help entrepreneurs and small businesses cope with the problems that they often face when a cheque bounces. It gives the legal provisions in common man's language.
Unit 4 Trade Settlement Methods, Export Finance, International Sources of Fi...Charu Rastogi
This presentation covers Trade Settlement Methods, Export Finance, Buyers credit and supplier’s credit, International receivables and cash management, and International Sources of Finance such as ECB, FCCB, ADR, GDR, FDI, Loan Syndication.
Objectives & Agenda :
The Regulations under FEMA regulate the Import transactions of Goods, Services and Currencies. In this Webinar we shall understand the Definition of the term 'Import', 'Services' and 'Currencies'. We will also look at various procedures and compliances involved while Importing goods or services or currencies.
Objectives & Agenda :
The Regulations under FEMA regulate the Import transactions of Goods, Services and Currencies. In this Webinar we shall understand the Definition of the term 'Import', 'Services' and 'Currencies'. We will also look at various procedures and compliances involved while Importing goods or services or currencies.
A Quick Guide to Action on Bouncing of ChequeAnil Chawla
Bouncing of a cheque invites criminal prosecution under section 138 of The Negotiable Instruments Act, 1881 in India. This Guide is meant to help entrepreneurs and small businesses cope with the problems that they often face when a cheque bounces. It gives the legal provisions in common man's language.
Unit 4 Trade Settlement Methods, Export Finance, International Sources of Fi...Charu Rastogi
This presentation covers Trade Settlement Methods, Export Finance, Buyers credit and supplier’s credit, International receivables and cash management, and International Sources of Finance such as ECB, FCCB, ADR, GDR, FDI, Loan Syndication.
Objectives & Agenda :
The Regulations under FEMA regulate the Import transactions of Goods, Services and Currencies. In this Webinar we shall understand the Definition of the term 'Import', 'Services' and 'Currencies'. We will also look at various procedures and compliances involved while Importing goods or services or currencies.
Objectives & Agenda :
The Regulations under FEMA regulate the Import transactions of Goods, Services and Currencies. In this Webinar we shall understand the Definition of the term 'Import', 'Services' and 'Currencies'. We will also look at various procedures and compliances involved while Importing goods or services or currencies.
Import finance Regulatory Frame Work EXIMAayush j.
Nature and significance of import financing decisions
Institutional regulatory framework of import financing
Exchange control regulations concerning imports
Various methods of import financing
It includes EXIM financing - Preshipment and Post shipment Financing, Forfaiting and factoring. In addition to this Interest rate subvention and ECB are also covered
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
2. 2
Committed to you
• Import of goods into Pakistan is regulated by Ministry
of Commerce.
• Import from Israel or from any other country notified
by Ministry of Commerce is prohibited.
• Import from India is regulated by Ministry of
Commerce from time to time.
• No person / company / firm is allowed to import unless
he possesses NTN and CNIC No.
• Letter of Credit for import can be opened for a period
upto 12 months, however for machinery and mill work
this period may extend upto 24 months.
SBP Regulations On Imports
3. 3
Committed to you
• Validity of LC may be extended within initial period of 12/24 months,
and may extend beyond 12/24 months, for a further period of 24 /
36 months.
• LC can be amended to change beneficiary within validity of LC.
• Before opening LC the AD should ensure that the item is classified as
importable under the import trade control schedule.
• Before delivering the documents to importer, AD should endorse the
amount of Foreign Exchange, to be remitted, on the invoice.
• Before establishing any letter of credit/registering contracts,
Authorized Dealers should take all precautions to ensure that the
goods to be imported under it are clearly classifiable under the
Import Trade Control Schedules.
SBP Regulations On Imports
4. 4
Committed to you
In addition to invoice value foreign bank’s charges on following
account may also be remitted,
i. LC advising charges
ii.LC amendment charges
iii.LC confirmation charges
iv.Negotiation commission
v.Unutilised LC commission
vi.Payment commission
vii.Reimbursement commission
viii.Collection commission
ix.Acceptance commission (Usance draft)
x.Postages / cable charges etc.
SBP Regulations On Imports
5. 5
Committed to you
• If value of documents exceeds LC amount and negotiating bank negotiates
considering amount being small, AD may effect remittance of excess amount
provided,
i. Such amount is within 5 % of amount of LC and maximum upto US$
500 or equivalent.
ii. Bill of entry covers the excess amount.
• Import on FOB basis is allowed in private sector subject to,
i. LC is opened on FOB basis.
ii. AD will issue a certificate on prescribed format for shipping company /
air line for collection of freight in Pak Rs.
• Payment of import may be made either through letter of credit or without
letter of credit against documents received for collection on the basis of
registration of contract.
• AD may register with them contract submitted by importer, and issue
registration certificate to importer.
SBP Regulations On Imports
6. 6
Committed to you
• AD who had registered the contract may effect remittance
against documents received from bankers of suppliers
abroad, if the documents are in conformity to the registered
contract.
• In case documents are received either by the importer or the
AD directly from overseas supplier, instead of bankers of
supplier, AD will make the remittance after goods have been
cleared from customs.
• Importer shall not use for any other purpose the foreign
exchange acquired for the purpose of imports.
SBP Regulations On Imports
7. 7
Committed to you
• All letters of credit should be documentary Letters of Credit
and should provide for payment against full set of clean on
board bill of lading, airway bill, railway receipt, post parcel,
(in case of bulk import of books from UK, statement of
dispatch).
• All LCs must call for invoices certifying country of origin of
goods in addition to any other certificate prescribed in
import policy.
SBP Regulations On Imports
8. 8
Committed to you
• LC may provide for payment to beneficiary either in the
country of origin of the goods, or in the country of shipment
of the goods.Payment may also be provided in a third
country provided it does not involve any extra payment. This
facility is, however not available for import of goods shipped
from ACU member countries.
• LC can not be opened which provides alternate country of
origin, however LC can be opened providing for goods of
“European Union” origin.
SBP Regulations On Imports
9. 9
Committed to you
• LC may provide for payment in any of the following manners,
i.In any foreign currency.
ii.In Pak Rupees for credit to non resident account of the
country of beneficiary or of the country of origin / shipment
of goods.
iii.Through ACU clearing arrangements where LC calls for
shipment directly from ACU member country.
• Beneficiary / goods can be changed before shipment at the
request of importer, provided new item is importable and
application for change of item is submitted to AD within
validity of the LC.
SBP Regulations On Imports
10. 10
Committed to you
• LC may provide negotiation within a period not exceeding 30 days from
date of shipment.
• AD should endorse opening of LC, for items other than freely
importable, into original category pass book.
• Before opening LC AD should obtain Form – I duly signed from the
importer.
• Form – I should be signed by the importer or his authorised agent, and
such person should disclose his status which is to be verified by AD.
• In case importers do not retire the documents and AD fails to get the I
form singed by them, AD should themselves sign it, and all such cases
should be reported to SBP.
SBP Regulations On Imports
11. 11
Committed to you
• In case of total or partial loss of goods during transit it will be
responsibility of the importer to obtain claim from the concerned
insurance company.
• For handling import under Aid / Loans / Barter agreements, SBP shall
designate ADs for opening of LCs.SBP shall also designate banks in
country of Loan / Aid giving agencies for the purpose of settlement.
• Various Aid / Loans have their own settlement procedure which
should be followed by the AD handling imports under such Aid /
Loans.
• Transactions under ACU member countries must be settled under
ACU mechanism.
SBP Regulations On Imports
12. 12
Committed to you
• Exporter must possess NTN and NIC No.
• Export from Pakistan is subject to a declaration by the exporter that
foreign exchange representing the full value of goods exported has
been or will be repatriated in manner and within a period specified
by SBP.
• The above restrictions do not apply to export to Afghanistan, export
to Iran by land route under special arrangements and to the export
of following,
i.Bonafide trade samples upto value of US$ 2000 per consignment,
supplied free of charge.
SBP Regulations On Exports
13. 13
Committed to you
ii.Leather garments manufacturers are allowed to export 50
samples in a calendar year irrespective of amount.
iii.Personal effects whether accompanied or unaccompanied.
iv.Ship stores and transhipment cargo.
v.Goods supplied by Government of Pakistan.
vi.Gift packets if declared by sender that value of contents is
upto value specified by Ministry of Commerce and no foreign
exchange is involved.
vii.Post parcel certified by SBP that no foreign exchange is
involved in transaction.
SBP Regulations On Exports
14. 14
Committed to you
• Exporter is required to declare details of export on – EFE to
customs / postal authorities.
• Export to certain countries as notified from time to time is
banned.
• Full value of goods exported must be realised on the due date of
related export bill or within 6 months from shipment which ever
is earlier. However in case of LC on 180 days usance such period
shall extend up to 195 days. In case of export of carpets or
exports to South America where usance may be up to 270 days
period for realisation shall extend up to 285 days.
SBP Regulations On Exports
15. 15
Committed to you
• Payment for goods exported to countries other than those with
which Pakistan has special payment arrangements like ACU
member countries etc. can also be accepted from FC accounts
maintained in Pakistan including account maintained by exporter
himself.
• Where terms of sales provide for payment earlier than 6 months,
extension may be allowed upto total period of 6 months from
shipment, if AD is satisfied with exporter’s explanation for delay.
• Exporter is allowed to retain foreign currency with AD for a period
of 3 working days thereafter to sell it to any AD.
SBP Regulations On Exports
16. 16
Committed to you
• Electronic linkage of Custom’s Computerized System (WeBOC)
with the commercial banks for the submission and verification of
Form ‘E” is an important initiative of the Pakistan Customs and
State Bank of Pakistan
• Export by country craft, motor launch or truck is allowed under
normal export procedure.
• Approve / Rejection Form-E request This feature enables the Bank
user to approve / reject the Form-E request which generates by
the exporter
• ADs shall not certify EFE – form unless they have satisfied
themselves with regard to following,
i.Arrangements for realisation of export proceeds have been
made.
SBP Regulations On Exports
17. 17
Committed to you
ii.Bonafide of importer abroad have been verified, particularly in
case of export on DA basis other than on LC.
iii.Arrangements have been made for receipt of documents of
title to goods direct from transport agency
iv.Genuineness of charter party has been verified where
required.
v.Export form has been signed by exporter or his authorised
agent disclosing his status in the concerned company.
vi.LC for export to ACU member country has been received
under ACU arrangements unless the export is under Aid / Loan
program
SBP Regulations On Exports
18. 18
Committed to you
• Certain commodities may, from time to time, be subject to export price
check, and in that case the authorised dealer will have to see the EPC
form along with the documents submitted by the exporter for
negotiation / collection as the case may be.
• Export of wool is under grading scheme and the exporter is required to
obtain a test report from government test house for all shipments of
wool, and such a report should be obtained by the AD along with the
documents for onward submission to SBP.
• Export of wool on consignment basis is only allowed to public sector.
SBP Regulations On Exports
19. 19
Committed to you
• Exports to Afghanistan are not required to be declared on EFE – form,
however exporter is required to repatriate proceeds within specified
period.
• All overdue export bills must be reported to SBP on periodical basis as
defined by SBP.
• If consignment is either lost or damaged in transit, the AD should
immediately lodge claim with insurance company and report the
transaction to SBP on triplicate copy of relative E – form marking
“shipment Lost”.
• In case advance payment has been received for the value of goods to be
shipped, the exporter must submit a certificate on “Advance Payment
Voucher” declaring details of the intended shipment.
SBP Regulations On Exports
20. 20
Committed to you
Exports to Afghanistan.
In respect of export to Afghanistan, the SRO 805(1)/2015 dated the 17th
August, 2015 issued by Ministry of Commerce stipulates that subject to
provisions of sub-paragraph (1) of paragraph-4 of the Export Policy Order,
2013, export of the following perishable goods shall only be allowed
against Pak currency on filing of regular shipping bills without the
requirement of “E-Form”, namely:-
(a) fruits;
(b) vegetables;
(c) dairy products; and
(d) meat.
Export of the above items shall not be entitled to:-
a) Zero rating of sales tax;
b) Rebate of Central excise duty; and
c) Payment of drawback of customs duty.
SBP Regulations On Exports
21. 21
Committed to you
Remittance of agency commission may be allowed by;
i.Deduction from the invoice.
ii.By instructing opening bank abroad to deduct such amount
from the proceeds to be realised and net amount may be
accepted as full realisation.
iii.By remittance from Pakistan on full realisation of the export
proceeds, within a period of 90 days after receipt of export
proceeds.
SBP Regulations On Exports
22. 22
Committed to you
1. Interpretation.
2. Authorised Dealers in Foreign Exchange
2A -Authorized money changers in foreign exchange
2AA. Exchange Companies
2B Cancellation of authorization
3. Restrictions on dealing in Foreign Exchange
4. Restrictions on payments.
5. Blocked accounts
6. Special accounts.
7. Restrictions on import and export of certain currency and
bullion
8. Acquisition by Federal Government of foreign exchange.
9. Duty of persons entitled to receive foreign exchange, etc.
10. Power to regulate the uses, etc., of imported gold and silver.
Foreign Exchange Regulation Act, 1947 (VII of 1947)
(Key Points)
23. 23
Committed to you
11. Payment for exported goods
12. Regulation of export and transfer of securities
13. Custody of securities.
14. Restrictions on issue of bearer securities
15. Acquisition by Federal Government of foreign securities
16. Restriction on settlement
17. Certain provisions as to companies
18. Power to call for information
19. 19 A Power to enter and inspect
20. Supplemental provision
21. Contracts in evasion of this Ac
22. False statements.
23. Penalty and procedure
24. Burden of proof in Certain Cases.
25. Power to Federal Government to give directions
26. Bar of legal proceedings.
27. Power to make rules.
Foreign Exchange Regulation Act, 1947 (VII of 1947)
(Key Points)