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Article: SBP revises FX interbank deal, trade confirmations, settlements.

Article from:
The Nation (Karachi, Pakistan)
Article date:
September 16, 2009
Copyright

BY: OUR STAFF REPORTER KARACHI, September 16 (THE NATION): SBP has re-engineered its process relating to treasury operations internally for FX interbank deal/trade confirmations and settlements, and is bringing the same in-line with the best int'l practices. According to SBP circular addressed to all banks (authorized dealers ) / all Islamic banks here on Wednesday, as per existing practice, banks provide deal/ trade confirmations to Domestic Markets and Monetary Management Department (DMMD) of SBP while they provide PKR debit/ credit authority letters to SBP BSC (KO). Further, SBP BSC (KO) is also currently handling the FX settlements of interbank deals/ trades and ...

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