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SBP extends time for settlement of Foreign Currency Loans

by FIA
Aug 20, 2020
in Business
0

KARACHI: State Bank of Pakistan (SBP) extends time for settlement of Foreign Currency Loans up to 180 days amid Coronavirus (COVID-19) pandemic to facilitate exporters and importers.

SBP extends time for settlement of Foreign Currency Loans
SBP extends time for settlement of Foreign Currency Loans

Read More: USD to PKR: Dollar rate in Pakistan [20 August 2020]

Continuing with its commitment to support the industry amid COVID-19 pandemic, SBP has further facilitated the exporters and importers by allowing extension up to 180 days in settlement of their export and import loans under FE-25 Scheme.


Banks can now allow extension up to 180 days to exporters in settlement of their FE-25 loans in case they are facing delay in realization of export proceeds due to COVID-19.

Moreover, banks can also allow settlement of FE-25 loans to exporters through substitute contract during the extended period of 180 days where the original export contract has been cancelled due to COVID-19. Likewise, SBP has also allowed the bank to extend the maturity of FE-25 import loans by 180 days.

This facilitation has been provided to exporter and importers for their foreign currency loans maturing up to September 30, For details http://www.sbp.org.pk/epd/2020/FECL17.htm


State Bank reiterates its unflinching resolve to continue working with all stakeholders to provide all needed facilitation in these uncertain times in the larger interest of people of Pakistan.

Read More: Currency Exchange Rates in Pakistan Today [20 August 2020]

Follow INCPAK on Facebook / Twitter / Instagram  for update.

Tags: circularFeaturedforeign currency loansSBPState Bank of Pakistan
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