State Bank of Pakistan Updates Foreign Exchange Manual to Streamline Regulations
The State Bank of Pakistan has updated its Foreign Exchange (FE) Manual, consolidating earlier amendments across chapters covering remittances, exports, imports, loans, and securities, to ensure streamlined compliance for authorized dealers.
SBP Opens Public Consultation on Draft Consumer Protection Regulations
The State Bank of Pakistan (SBP) has released a draft consumer protection framework for public consultation, aiming to enhance fairness, transparency, and accountability in financial services. Feedback is open until September 30, 2025.
FBR Clarifies Federal Excise Duty is Not a Tax Expenditure in Latest Report
FBR has clarified in its Tax Expenditure Report-2025 that Federal Excise Duty (FED) is not a tax expenditure, as it is a targeted levy applied to specific goods and services without broad exemptions.
Senate Committee Voices Concerns Over Virtual Assets Bill 2025 Amid Crypto Risks
The Senate Standing Committee on Finance reviewed the Virtual Assets Bill 2025, raising concerns about crypto misuse, taxation, and money laundering while urging robust regulation to balance opportunity and risk.
SECP Forms Sustainable Finance Advisory Group to Drive ESG and Gender-Smart Reforms
SECP has launched the Sustainable Finance Advisory Group for Capital Markets to advance ESG practices, support the Women EquiSmart Policy, and align Pakistan’s financial sector with international sustainability standards.
FBR Introduces Nationwide Digital Invoicing System to Modernize Sales Tax Compliance
The Federal Board of Revenue (FBR) has launched a nationwide digital invoicing system for sales tax-registered taxpayers, enabling automation, transparency, and efficiency in compliance processes.
FBR Gains Power to Freeze Bank Accounts Over Sales Tax Registration Failure
FBR has gained new powers under the Finance Act 2025 to suspend or permanently freeze bank accounts and restrict property transfers for businesses and individuals who fail to register for sales tax under Section 14AC and 14AD of the Sales Tax Act.
NIBAF Strengthens Compliance Expertise with Training on Section 23K of FERA
NIBAF Pakistan held a one-day training session on September 5, 2025, in Karachi, led by Muhammad Akram Zaki, to enhance compliance expertise of commercial bank officers under Section 23K of the Foreign Exchange Regulation Act (FERA).
SECP Pushes Digitalisation and Sukuk Reforms to Broaden Financial Access
SECP Chairperson Akif Saeed has announced new reforms to strengthen Pakistan’s Sukuk market and accelerate financial digitalisation, with initiatives such as digital account openings, retail digital Sukuk, and expanded bank participation in capital markets.
Islamabad High Court Suspends SECP Directive Against United Insurance Company
The Islamabad High Court has suspended SECP’s directive that halted United Insurance Company’s guarantee business operations, granting interim relief to the insurer while legal proceedings continue.