The State Bank of Pakistan has instructed all authorized foreign exchange dealers to integrate their operational systems with the Pakistan Single Window Price Verification Portal and ensure full readiness by July 31, 2026. The central bank issued the directive through EPD Circular Letter Number 13 on July 20, aimed at reinforcing compliance with price-related due diligence requirements across cross-border commercial transactions. The regulatory measure falls directly under the overarching framework established by the central bank to manage risks associated with trade-based money laundering and counter the financing of terrorism.
The newly developed portal, created by the Pakistan Single Window team, serves as an additional digital tool to supplement the existing in-house and third-party price verification mechanisms currently utilized by financial institutions. According to the central bank, incorporating this platform into daily banking workflows will significantly strengthen national anti-money laundering and counter-terrorist financing controls connected to international trade transactions. By providing an integrated verification mechanism, the portal helps banks identify suspicious pricing discrepancies and potential trade misinvoicing before executing foreign currency settlements. Despite the introduction of the centralized portal, the central bank emphasized that primary responsibility for conducting thorough due diligence continues to rest with the individual authorized dealers. Financial institutions are required to utilize all available verification systems, technical tools, and third-party information services alongside the new single window feature to meet their legal obligations under existing laws and financial regulations. The portal provides an extra layer of standardized data to assist banks in verifying valuation accuracy during commercial trade audits.
To ensure seamless technological adoption, commercial banks and authorized exchange dealers have been instructed to finish all necessary software updates and complete API integration according to technical specifications shared by the central bank in mid-April 2026. Financial institutions must execute system testing and achieve technical compatibility before the end-of-month deadline to avoid operational disruption across trade finance desks. The regulator concluded its circular by issuing a clear warning regarding non-compliance. The central bank stated that any authorized dealer failing to meet the integration deadline or fulfill mandated price verification protocols could face administrative penalties and formal regulatory enforcement actions under the relevant provisions of the Foreign Exchange Regulation Act of 1947.
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