State Bank of Pakistan raises alarm bells against buyers of US dollars from exchange companies
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*KARACHI - **State Bank of Pakistan raises alarm bells against buyers of US dollars from exchange companies, media reports have revealed.*
*The federal government has decided to collect a complete record of the buyers of the US dollar through exchange companies across the country.*
A letter has been sent to the Federal Board of Revenue (FBR) by the State Bank of Pakistan (SBP) which sought a complete record of the foreign currency buyers.
The letter also stated that the revenue board had already sought the assistance of the central bank to trace such buyers, whereas, FBR is authorised to collect the required data of foreign currency buyers from the exchange companies.
It is also stated that the decision was taken to review the activities of bank exchange company under the Foreign Exchange Regulation Act. The central bank said that the federal government has already commenced carrying out a country-wide crackdown against dollar hoarding.
