KARACHI: The State Bank of Pakistan has announced a relaxation for the banking sector, allowing easier remittance of payments abroad.
According to a circular, banks can now transfer salaries, fees, and other payments for overseas-based directors, chairpersons, Sharia advisors, and scholars without seeking prior approval from the State Bank’s Foreign Exchange Department.
Under the new facility, authorized dealers can process the transactions once all required documentation is completed, streamlining overseas payments for regulated institutions.
Earlier, the foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $16 million on a weekly basis, reaching $16.09 billion as of January 16, 2026, data released.
Total liquid foreign reserves of the country stood at $21.26 billion, while net foreign reserves held by commercial banks were recorded at $5.17 billion.
“During the week ended on 16-Jan-2026, SBP’s FX reserves increased by US$16 million to US$16,087.7 million,” the central bank said in its statement.
According to the data, foreign reserves held by the SBP amounted to $16.07 billion, while commercial banks held net foreign reserves of $5.18 billion.
In the previous week, the central bank’s foreign exchange reserves had also posted a modest increase.
