{"id":80834,"date":"2021-10-25T12:14:51","date_gmt":"2021-10-25T07:14:51","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=80834"},"modified":"2021-10-25T14:07:32","modified_gmt":"2021-10-25T09:07:32","slug":"sbp-nadra-verification-mandatory-dollars","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-nadra-verification-mandatory-dollars.html","title":{"rendered":"NADRA verification made mandatory for dollar purchasers"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) has asked all exchange firms to conduct biometric verification of purchasers of USD 500 more beginning from October 22 in order to reduce the outflow of US dollars, news sources reported. The verification from National Database and Registration Authority&#8217;s (NADRA) e-Sahulat will only be applicable until November 5.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/digital-banking-plan-to-be-approved-in-a-month-sbp.html\" target=\"_blank\" rel=\"noreferrer noopener\">Digital banking plan to be approved within a month: SBP deputy governor<\/a><\/p>\n\n\n\n<p>The circular, dated October 7, was issued to prohibit the illegal flow of dollars from Pakistan to Afghanistan and to discourage profiteers from stockpiling dollars. Under the new plan, purchases of more than USD 500 will be required to get obligatory verification from NADRA e-Sahulat outlets. According to the<a href=\"https:\/\/www.zameen.com\/news\/sbp-hikes-up-interest-rate-after-two-year-break.html\" data-type=\"post\" data-id=\"79856\" target=\"_blank\" rel=\"noreferrer noopener\"> Exchange Companies <\/a>Association of Pakistan (ECAP) Secretary-General Zafar Paracha, the SBP has introduced a revised circular on October 22 allowing both A and B category money exchangers to conduct the sale of foreign currency and outward remittances up to November 5.\u00a0<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-hikes-up-interest-rate-after-two-year-break.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP hikes up interest rate after two-year break<\/a><\/p>\n\n\n\n<p>After the deadline, the money exchangers will be able to verify the biometric identification of the purchasers themselves through<a href=\"https:\/\/www.zameen.com\/news\/nadra-launches-biometric-verification-for-banks.html\" data-type=\"post\" data-id=\"79573\" target=\"_blank\" rel=\"noreferrer noopener\"> NADRA-developed android application<\/a>, reducing the e-Sahulat requirements.\u00a0 Furthermore, the SBP, in a recent circular, has permitted just USD 1,000 for individuals travelling to Afghanistan, with an annual cap of USD 6,000. According to General Secretary Pracha, this will limit dollar hoarding and outflows and help stabilise the rupee-dollar parity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) has asked all exchange firms to conduct biometric verification of purchasers of USD 500 more beginning from October 22 in order to reduce the outflow of US dollars, news sources reported. The verification from National Database and Registration Authority&#8217;s (NADRA) e-Sahulat will only be applicable until November 5.\u00a0 Read: Digital banking plan to be approved within a month: SBP deputy governor The circular, dated October 7, was issued to prohibit the illegal flow of dollars from Pakistan to Afghanistan and to discourage profiteers from stockpiling dollars. Under the new plan, purchases of more than USD 500 will be required to get obligatory verification from NADRA e-Sahulat outlets. According to the Exchange Companies Association of Pakistan (ECAP) Secretary-General Zafar Paracha, the SBP has introduced a revised circular on October 22 allowing both A and B category money exchangers to conduct the sale of foreign currency and outward remittances up to November 5.\u00a0 Read: SBP hikes up interest rate after two-year break After the deadline, the money exchangers will be able to verify the biometric identification of the purchasers themselves through NADRA-developed android application, reducing the e-Sahulat requirements.\u00a0 Furthermore, the SBP, in a recent circular,&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[49071,49070,49069],"persona":[],"class_list":{"0":"post-80834","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-nadra-e-sahulat","9":"tag-sbp-dollar-regulation","10":"tag-sbp-makes-nadra-verification-mandatory-for-dollars-purchasers","11":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP makes NADRA verification mandatory to buy dollars- Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has asked all exchange firms to conduct biometric verification of purchasers of USD 500 more beginning from\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-nadra-verification-mandatory-dollars.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP makes NADRA verification mandatory to buy dollars- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) has asked all exchange firms to conduct biometric verification of purchasers of USD 500 more beginning from\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-nadra-verification-mandatory-dollars.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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