KARACHI The State Bank of Pakistan (SBP) has issued a directive making it mandatory for commercial banks to establish Electronic Data Interchange (EDI) with the Pakistan Single Window (PSW).
The objective is to ensure smooth and secure sharing of customer bank profiles and related information.
According to the latest guidelines, commercial banks are required to connect their systems with the PSW platform in line with the technical specifications and documentation prescribed by the State Bank.
Through this integration, banks will share customer profiles, financial instruments, Business-to-Debit Advices (BDAs), and other related details electronically.
The EDI system is designed to improve transparency, reduce manual intervention, and enhance efficiency in cross-border trade and financial transactions.
Banks have also been instructed to ensure strong data security, confidentiality, and business continuity planning as per international regulatory standards.
For all foreign exchange-related purposes, any function performed through EDI will be deemed as being directly carried out by the concerned bank.
Furthermore, banks will be required to maintain updated risk profiles of their customers under applicable regulations.
When an importer registers with the PSW system, an electronic request will automatically be sent to the relevant bank for validation of information, including IBAN, contact details, NTN, and permissible payment methods.
Any changes in an importer’s status, such as restrictions or deactivation, must be communicated to PSW in real time through the EDI interface. This step ensures consistency, accountability, and reliability across all banking operations.
