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Tag: incentives for banks

A variable component would also provide an additional Rs3 per USD for additional remittances up to 5% or $25 million, whichever is less, and Rs4 per USD for growth above 5% or $25 million. Payments would be made in accordance with SBP-specified percentages for the surrender of foreign exchange, with performance being assessed on a monthly basis and modifications being made in the last quarter of the fiscal year. According to SBP, these changes will incentivise exchange operators to facilitate more remittance transfers, hence mitigating their augmented operational expenses. ECC consent Accepting SBP's proposed modifications to the TT Charges Scheme and the Incentive Scheme for Exchange Companies, the ECC of the Cabinet took a look at the Finance Division's summary of the "Proposal for Revision in Home Remittances Incentive Schemes".

NEW INCENTIVES UNVEILED TO BOOST GLOBAL REMITTANCES

Posted on September 15, 2024 by News Desk

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